Assala Energy reports hydrocarbons presence in Gabon

Assala Energy has found hydrocarbons in the targeted reservoir interval in the Magoga-1 exploration well

The well is located in the Mutamba Iroru II Licence in Gabon, which also comes with a sidetrack into the Atora II Licence.

Going by the initial data acquired during drilling the presence of 8 meters of hydrocarbon has been identified within the Gamba Sandstone formation. This will be followed by integration and interpretation of the well to assess reservoir properties, fluid characteristics and volumetric potential. These will determine the company's next steps, while deciding if there's any requirement for any additional appraisal activity.

“This result provides encouraging subsurface information from the Mutamba Iroru II & Atora Licence and adds to our understanding of the basin’s prospectivity,” said Timothee de Reynal, subsurface director at Assala Energy. “Our immediate focus is on completing a thorough technical evaluation of the data gathered from the well and determining the appropriate forward work programme.”

Both of the Magoga wells drilled the full reservoir interval and safely completed operations in line with applicable operational, environmental and safety standards.

The discovery will be subject to further technical analysis and, where appropriate, additional studies or appraisal activity. No determination has yet been made regarding commerciality, and no decision has been taken regarding development.

Assala Energy will continue to work closely with the relevant authorities, its stakeholders and shareholders, as it progresses the evaluation of the well results.