Mzia-2 Appraisal well Hits 62m of Net Gas Pay (Tanzania)

Ophir Energy plc announces the successful results of its appraisal programme on the Mzia field, Block 1 Tanzania, and the commencement of its Block 1 flow testing programme. Ophir holds 40% of Blocks 1, 3 and 4; the BG Group operates with 60%.

Successful Mzia-2 Appraisal

The Mzia-2 appraisal well was drilled approximately 4km to the southeast of the 2012 Mzia-1 discovery well in 1622m of water. Mzia-2 encountered 62m of net gas pay in Cretaceous reservoirs and established pressure communication between the Mzia-2 and Mzia-1 gas columns. This result confirms a vertical gas column of at least 200m for the Mzia field.

Tanzania’s First Testing Programme

The Joint Venture is now commencing flow testing in Block 1. This will be the first drill stem test in the Tanzania deepwater offshore area. The Deep Sea Metro drillship (DSM) is now on location at the Jodari field to test Oligocene-aged reservoirs, with the testing programme expected to be completed by the end of February. Due to the high-quality reservoir properties verified in the Jodari field, the Joint Venture anticipates that the observed flow rate may be constrained by the limits of testing equipment.

The Joint Venture is currently analysing data from Mzia-2, with a view to the DSM re-entering the well to conduct a DST of the Cretaceous-aged Mzia reservoir. The Mzia flow test will confirm deliverability from the core part of the Mzia field. A Mzia-2 DST would be expected to be completed by early April. Test rates from the Cretaceous are forecast to be lower than from the Tertiary due to differences in burial depth and the relative parameters of the two reservoir types.

Recommencement of Exploration Drilling & Seismic Acquisition

Following completion of testing the Joint Venture will re-commence exploration drilling with an anticipated two well programme starting in early April. The Joint Venture is actively interpreting and mapping an inventory of prospects following which Ophir will update the market with both target sizes and proposed well locations. Subject to Joint Venture approval, the first of these wells will be on the recently acquired outboard Block 1 3D dataset.

In addition, the Joint Venture is undertaking a 2,500 sq km 3D seismic survey in the inboard area of Block 1 to investigate additional resource potential and mature further drilling targets. The acquisition of the inboard 3D survey is expected to be completed in late March.

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Press Release, February 7, 2013