Wessex Exploration: GM-ES-4 Shows No Hydrocarbons (French Guiana)

Wessex Exploration PLC announces the conclusion of drilling activities on the GM-ES-4 well in French Guiana.

The well penetrated the primary and secondary reservoir objectives before drilling operations were concluded at a total depth of 6,292m. The results of the wireline logging programme has confirmed the presence of reservoir, however no evidence of hydrocarbons is seen from the drilling or wireline log data. The well is now being plugged and abandoned.

The Stena ICEMax will now drill the GM-ES-5 exploration well, which will be located on the Cingulata fan in which the Zaedyus discovery was made in 2011. The well is designed to explore deeper targets within the Cingulata fan complex as well as testing the potential downdip extension of the GM-ES-1 discovery.

GM-ES-5 is the last in a four well exploration drilling campaign that commenced in mid 2012 to follow up the Zaedyus oil discovery made in 2011.

Wessex owns a net 1.25 per cent interest in the offshore exploration licence ‘Guyane Maritime’ through its holding of 50 per cent of Northpet Investment Limited. Wessex is in partnership with Shell (Operator, holding 45 per cent), Tullow (27.5 per cent), Total (25 per cent) and Northern Petroleum Plc (also holding 1.25 per cent through owning the remaining 50 per cent interest in Northpet Investment Limited).

Malcolm Butler, Chairman of Wessex Exploration PLC stated:

“Although the GM-ES-4 well did not encounter hydrocarbons, the data from this well will now be integrated with that from the previous wells drilled by the group to assist in the interpretation of the new ‘Central Slope’ 4,300 square kilometres 3D seismic volume. The additional information will help the partnership understand and minimise the risks of new leads and prospects being developed within in the Guyane Maritime permit. I now look forward to the drilling of the GM-ES-5 well and the opportunity that it presents the Company and Shareholders.”