Vitol Upstream (Ghana) Limited and GNPC’s Sankofa -1A Well Discovers Oil and Gas Offshore Republic of Ghana

GENEVA - The Sankofa -1A well drilled in its Cape Three Points Block, offshore Ghana, by the Ghana National Petroleum Corporation (GNPC) in conjunction with Vitol Upstream Ghana Limited (Vitol), encountered a net hydrocarbon column of approximately 36.3 metres comprising 33.1 metres of gas column and 3.2 metres of oil column in reservoir sands of Campanian age. The success of this well confirms the prospectivity of these Upper Cretaceous reservoir sands in the Tano/Cape Three Point Basin blocks offshore Western Ghana where the Jubilee field was discovered and is being developed.

The Sankofa -1A well, located 38km east of the Jubilee Field and 21km east of the Odum discovery in the West Cape Three Points block, has been suspended for possible re-entry. The target reservoir was successfully cored and a full wireline logging program was also run.

The well was drilled with the Blackford Dolphin Semi-Submersible drilling rig in water depths of 866 metres and reached a total depth of 3,704 metres MD (3,674 metres TVDSS).

The Vitol Block covers a total area of 2,080 square kilometers in water depths ranging from 50 metres to 1,400 metres. This is the first exploration well to be drilled during the first phase (that is 3 years) of the three-phased seven-year exploration period provided for in the Petroleum Agreement entered into with the Government of Ghana and GNPC in 2006.

Vitol has 90% interest in the block while GNPC has 10% carried interest. GNPC has the option of acquiring an additional 10% paying interest on commercial discovery. Vitol also operates the offshore Cape Three Points South Block.

Vitol contacts: Duncan Preston: +233-22-216912 Andrew Mitchell: +44-207-251-3801 More details on the Vitol group can be found on www.vitol.com

Source: Vitol

Vitol contacts: Duncan Preston: +233-22-216912, Andrew Mitchell: +44-207-251-3801