Dorade is located well south of Tevet-1 and is in a different target zone. It was drilled to test a late Miocene channel sand fairway. The water depth is 1670 metres and the main target was intersected at about 2400 metres depth but no hydrocarbons were found. The well is now being plugged and abandoned.
Woodside always considered Dorade-1 to be a high-risk well and it was no surprise that it turned out to be a duster.
Tevet-1 has already made the Mauritanian exploration a success. This well yielded 140 metres of gross hydrocarbons and is near enough to be tied into the current Chinguetti oil project. Woodside and partners believe Tevet-1 well may contain between 50-100 million barrels of oil.
Woodside shares slipped by seven cents or 0.3% overnight and have been fluctuating around the $20 mark.
Woodside, Hardman and ROC are drilling in three Mauritanian offshore production sharing contract areas (PSCs) with various other partners. Woodside is the operator in each of these areas.
Interests in the PSC A block are: Woodside 53.846%, Hardman 24.3%, BG group 13.084%, Fusion Mauritania A Ltd 4.615% and ROC Oil 4.155%.
Interests in the PSC B block (which includes Tevet) are: Woodside group companies 53.846%, Hardman group companies 21.6%, BG 11.63%, Premier group 9.231% and ROC 3.693%.
Interests in the PSC C block (which includes Dorade) are: Woodside group companies 48%, Hardman group companies 28.8%, Energy Africa 20% and ROC 3.2%.
