News & Media releases

Shell and Pan-Ocean discover 2nd Oil accumulation in the Awoun Permit Gabon, West Africa

05/11/2004

Following the Koula discovery made in September 2004, Shell Gabon and its co-venturer Pan-Ocean Energy Corporation Limited announce a second light oil discovery in the exploration well AWODAM001 drilled on the flank of the Damier prospect in the Awoun permit, some four kilometers southwest of Koula. The two discoveries are located eight kilometers to the north of the Total/Shell producing Avocette field, and five kilometers to the northwest of Pan-Ocean's producing Obangue field.

The AWODAM001 exploration well was drilled and logged with the Simpler 101 rig to a total depth of 2079 meters. Petrophysical log data analysis, wireline formation tester and samples taken within the Gamba reservoir section indicate an oil column of at least 25 m. No gas was observed on the logs or during the wireline formation testing ".

The well is currently being suspended at the 9/58" casing. The partnership will next start appraisal drilling on the Koula discovery in early November 2004.

Shell Gabon, the operator and Pan-Ocean each have a 50% interest in the well prior to the government 20% back-in. AWODAM001 is the second well drilled as part of a two-well exploration campaign in the permit.