Africa Oil Corp. Announced that it has made an important oil breakthrough in the Orinduik bloc on the coast of Guyana. The "Jethro-1" exploration well was drilled by the Stena Forth probe vessel to a final depth of 14,331 feet (4,400 meters) in approximately 1,350 meters of water. It is the first discovery in Orinduik's license and comprises high quality sandstone reservoir of lower tertiary age.
We found 55m of high quality oil liquid in excellent sandstone reservoirs. The area now waits for the appropriate valuation activity to be determined. The next target of Stena Forth is titled "Joe-1", a well that features geophysical characteristics similar to Jethro-1.
The president of Africa Oil Corp., Keith Hill, has evaluated that "discovery is another confirmation of our exploration portfolio strategy. For a limited financial commitment, we managed to achieve significant exposure to some of the world's hottest exploration areas. " And he completed: "We look forward to further discoveries in Guyana, as well as the piercing of the enormous prospect of Venus and at least two additional low-risk prospects in the Paddienus bloc in South Africa in 2020."
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