Maurel & Prom : Update on Kianika-1 Well in TanzaniaBy Maurel Prom, PRNE
Thursday, December 2, 2010
PARIS, December 3, 2010 - The Kianika-1 well on the Mandawa PSA in Tanzania (Maurel & Prom operator
with a 90% working interest) has reached the planned depth of 3,040 m. The
targeted carbonates of Mid Jurassic Mtumbei formation have been found and
with good reservoir characteristics, which confirms the interest for this
play in this region.
No hydrocarbon shows being encountered (possibly due to lack
of effective lateral seal), Maurel & Prom has requested authorization to plug
and abandon the well.
The Kianika-1 well is the second and last commitment well of
the Initial Exploration Phase. Maurel & Prom is further evaluating the well
results to determine the way forward with this block.
Maurel & Prom is currently engaged in a farm-out process of
the Group's interest in Tanzania.
This document may contain forward-looking statements regarding
the financial position, results, business, and industrial strategy of Maurel
& Prom. By nature, forward-looking statements contain risks and uncertainties
to the extent that they are based on events or circumstances that may or may
not happen in the future. These projections are based on assumptions we
believe to be reasonable, but which may prove to be incorrect and which
depend on a number of risk factors such as, fluctuations in crude oil prices,
changes in exchange rates, uncertainties related to the valuation of our oil
reserves, actual rates of oil production and the related costs, operational
problems, political stability, legislative or regulatory reforms, or even
wars, terrorism or sabotage.
Maurel & Prom is listed for trading on Euronext Paris - Compartment A - CAC mid 100 Index Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA For more information, go to www.maureletprom.fr Contact: INFLUENCES +33-1-42-72-46-76 email@example.com
For more information: Contact: INFLUENCES, +33-1-42-72-46-76, communication at agence-influences.fr
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