Logs of the wildcat Tevet-1 well indicated a gross gas column of 70 metres above an oil column of approximately 44m according to a Woodside drilling report released this morning.
The well is within tie-back distance of the Chinguetti field which is currently being developed.
Woodside said the well was drilled at a location to intersect the predicted fluid contacts. The top reservoir, gas-oil contact and oil-water contact were encountered at their predicted pre-drill depths.
The partners are also currently appraising the Tiof discovery via the Tiof-3 well.
“Evaluation of logs acquired while drilling and wireline logging operations, including fluid sampling and downhole pressure measurements, has established that the well intersected a gross oil column of 134 metres, containing several individual sands of variable thickness. The result was in line with pre-drill expectations,” said the Woodside drilling report.
Woodside said it was preparing to sidetrack, core and test the well.
Hardman put on 6 cents this morning on the news, pushing it to $2.41 in morning trade. Woodside dropped back from its highs earlier this week but was still trading above $20.
