KOSMOS & CAIRN ABANDON GAS EXPLORATION IN BOUJDOUR FOLLOWING “NON COMMERCIAL DISCOVERY”

Kosmos Energy and Cairn Energy have plugged the Cap Boujdour exploration well after they made a “non-commercial discovery.

A statement from Kosmos Energy said that “the well penetrated approximately 14 meters of net gas and condensate pay in clastic reservoirs over a gross hydrocarbon bearing interval of approximately 500 meters. The discovery is non-commercial, and the well will be plugged and abandoned.”

Kosmos chief executive, Andrew Inglis commented on this non-commercial discovery saying the following:

“The CB-1 exploration well was designed to open the frontier Laâyoune Basin by testing the Al Khayr Prospect. While not a commercial find, this first well in the basin has significantly de-risked further exploration by demonstrating a working petroleum system, including the presence of a hydrocarbon charge, as well as effective trap and seal. The well results confirm the substantial exploration potential of our 22,000 square kilometer Cap Boujdour block, which includes a diverse range of independent plays and fairways with multiple prospects.”

“Going forward, the key exploration challenge is finding reservoirs of commercial size and quality. We will analyze the information gathered from CB-1 and integrate it with the additional 3D seismic data we recently acquired to refine our exploration plan, including deciding on the location and timing of a potential second well. The Atwood Achiever drillship will now proceed to Mauritania as planned to test the Tortue Prospect,” Andrew Inglis closed.

02/03/2015