Noble Energy Announces Natural Gas and Condensate Discovery From Deep Test on the Alba Block in Equatorial Guinea

abarrelfullabarrelfull wrote on 25 Jul 2012 06:34
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June 21, 2004

Noble Energy, Inc. (NYSE: NBL) today announced a natural gas and condensate discovery on the Alba Block (Sub Area A) offshore Equatorial Guinea.

The Deep Luba discovery well is located approximately 18 miles west of Bioko Island in 245 feet of water. The well was drilled to a total measured depth of 15,497 feet and encountered 270 feet of net natural gas and condensate pay in the Lower Isongo section approximately 1,000 feet below the currently producing Alba field pay sands. The well also encountered natural gas and condensate pay in the shallower Isongo sands in the Alba field producing section.

One of the Deep Luba well's three pay zones was tested at a stabilized rate of 18.1 million cubic feet of gas and 1,000 barrels of condensate per day on a 32/64-inch choke. These initial results are encouraging because each of the remaining two untested zones are thicker and appear to be of better quality based on wireline log analysis. The remaining pay zones will be tested during the second half of 2004.

Noble Energy Inc. holds a 34 percent working interest in the Alba Block. Marathon Oil Corporation (NYSE: MRO) is the operator with a 63 percent working interest, and Compania Nacional de Petroleos de Guinea Ecuatorial (GEPetrol), the national oil company of Equatorial Guinea, holds the remaining three percent interest.


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