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More Oil For Nigeria As Newcross Petroleum Announces Efe-1 Discovery

By TheNigerianVoice-TNV

Lagos (Nigeria), October 23, 2013 – Newcross Petroleum Limited, the Operator of OPL 283 (formerly OML56) and its partner, Rayflosh Petroleum, under a Production Sharing Contract with NNPC (as the concessionaire), has announced the Efe discovery with the support of Nigeria National Petroleum Corporation (NNPC) and the Department of Petroleum Resources (DPR).

According to Mr. Evi Otobo of the Exploration Unit, the Efe discovery is a confirmation of the support NNPC and DPR have expressed in newly emerging companies willing to actively pursue the increasing the national hydrocarbon reserves through new exploratory activities.

The Efe field in which the EFE-1ST well is located is in OPL 283 block, which is in the Northern Niger Delta Depobelt. EFE-1ST was successfully drilled to a total depth of 14,086ft MD (12,720ft TVD) and encountered sixteen (16) hydrocarbon-bearing sands with gross hydrocarbon thickness of 648ft TVD.

Mr. Otobo said the EFE-1ST tested a four-way dip closure at the shallow levels gradually becoming fault-dependent hanging wall closures at intermediate to deeper levels. At much deeper levels, the dip directions can change with closures moving to the footwall against south-bounding faults to explore EFE-main shallow, intermediate and deeper plays of the middle-upper Eocene reservoirs.

As a result of encountering 16 hydrocarbon-bearing sands, work is ongoing to determine the size and commerciality of the discovery.

This discovery represents an important step towards unlocking the deep potentials in OPL 283. EFE-1ST will be temporarily suspended while the company moves ahead to drill EFE-B.

OPL 283 is in the Northern aspect of the Niger Delta. Formerly known as OML56, the block has a total size of 1272 sq km, with four existing marginal fields within the boundary of the acreage.

For additional information, please contact Mr. Bashir Idowu (Strategic Team Lead) at [email protected]

About Newcross Petroleum Limited
Newcross Petroleum Limited, the Operator of OPL-283 has been in operation in Nigeria since 2004 as an exploration and production company. The Company is primarily focused on the upstream industry, harnessing exploration and production opportunities in the African continent with current emphasis on the Niger Delta Petroleum Province and the West African sub-region.

Newcross acquired the interest of Centrica Resources (Nigeria) Limited and CCC Oil and Gas in two acreages in Nigeria. In addition, Newcross holds interest in a producing Marginal Field (and its oil and gas related facilities) and in an oil evacuation pipeline which assists in the transportation of hydrocarbon.