Ophir Energy plc (“Ophir” or “the Company”) announces that drilling operations have now commenced on the Padouck Deep-1 well on the Ntsina Block, offshore Gabon utilising the Vantage Titanium Explorer drillship. Ophir has a 40%* operated interest in the Block.

Padouck Deep-1 is the first well targeting the pre-salt play offshore in the North Gabon basin although the play is regionally extensive elsewhere in Gabon and West Africa. The prospect is estimated to contain Pmean recoverable resources of c.1.0bnbbls with significant follow-on potential.

The well is located in a water depth of approximately 835m and has a planned Total Depth of 3,500m True Vertical Depth Sub Sea. Operations are expected to take approximately 45 days. Ophir’s share of the well cost is largely carried by partners Petrobras and OMV(1).

Nick Cooper, CEO, commented:
“The Padouck Deep-1 well is the first of three potentially transformational wells being drilled back to back by Ophir in Gabon targeting substantial oil resources. Padouck Deep is one of two pre-salt wells that will be drilled in the current campaign where the total play potential is estimated at c.4.0bnbbls from currently defined leads and prospects”

(1) OMV farm-in announced 18 December 2013 is subject to Government approval

About Ophir Energy plc

Ophir Energy is an African focused, world-class upstream oil and gas exploration company which is listed on the London Stock Exchange. Ophir as an intensive deepwater acreage in West and East Africa acquired since is fondation in 2004.
The Group's headquarters are located in London (England), with operational offices in Perth (Australia), Dar es Salaam and Mtwara (Tanzania), Malabo (Equatorial Guinea), Libreville (Gabon), Nairobi (Kenya) and Accra (Ghana).