Artumas was today advised that Anadarko Petroleum Corporation has made a significant gas discovery at its first offshore exploration well location ('Windjammer') in the Rovuma Basin, Mozambique. This is the first well within a 7 well commitment for this concession, and the first of the 4 well offshore programme schedule for 2010.
Artumas holds a 0.495% royalty interest in profit petroleum related to this Rovuma Offshore Area 1 Block.
In regards to the discovery Cameron Barton, Artumas CEO said, 'this is and extremely encouraging sign for the Basin, providing strong evidence as to the significant development potential of the region in the future.'
Excerpts from Anadarko release is copied below:
ANADARKO ANNOUNCES FIRST DEEPWATER DISCOVERY
HOUSTON, Feb. 18, 2010 - Anadarko Petroleum Corporation (NYSE: APC) today announced the Windjammer exploration well in the frontier Rovuma Basin offshore Mozambique has reached an intermediate casing point and encountered more than 480 net feet of natural gas pay in high quality reservoir sands, with a gross column of more than 1,200 feet. To date, this well has tested one of the seven identified play types in Anadarko's operated acreage offshore Mozambique.
'The intermediate results of the Windjammer well are very positive for the partnership and the people of Mozambique,' said Bob Daniels, Anadarko Sr. Vice President, Worldwide Exploration. 'This is true rank wildcat exploration, and to have our first deepwater exploration well result in a discovery with more than 480 net feet of pay is an excellent indication of the potential of this basin. The Windjammer discovery de-risks a substantial portion of approximately 50 leads and prospects that we've identified across our 2.6-million-acre position in the basin.'
To date, the Windjammer well has been drilled to a depth of approximately 14,000 feet in about 4,800 feet of water approximately 30 miles east of the Mozambique coastline. The company anticipates drilling another 4,100 feet in this well to gain additional geological information prior to reaching total depth.
After testing the deeper objectives in the well, Anadarko plans to move the Belford Dolphin drillship to its Collier prospect less than 50 miles south-southeast of Windjammer. Anadarko also expects to drill two to four additional exploration wells in the Rovuma Basin this year, with initial well results from Windjammer and Collier determining which prospects are drilled next.