Cove Energy (LON:COV) announced this morning a discovery at the Windjammer exploration well in Mozambique. The oil and gas company is scheduled to drill 4 offshore wells, of which Windjammer is the first, in the frontier Rovuma Basin, offshore Mozambique. Cove has a 10% working interest in the program, which is operated by Anadarko Petroleum Corporation who have a 43% paying interest in the well. So far the company has drilled to depth of 14,000 feet in about 4,800 of water about 30 miles off the east coast of Mozambique.
Chief Executive of Cove, John Craven, commented:
"The Windjammer success is a great result for Cove shareholders. The well encountered a substantial hydrocarbon column in excellent quality reservoirs. Importantly this discovery, the first of its kind offshore east Africa, unlocks the hydrocarbon potential of a new petroleum province in the Rovuma basin offshore Mozambique and paves the way for more success in our fully funded ongoing deepwater drilling campaign. Windjammer has propelled Cove from start-up to deepwater success in less than a year; participating in a consortium, which has the necessary exploration, development and marketing skills to fully exploit the potential of this new hydrocarbon province."
The Windjammer drill found in excess of 480 net feet of natural gas pay in high quality reservoir sands, with a gross column of more than 1,200 feet, the report said. The company expects to drill a further 4,100 feet, to total depth, in order to gain additional geological information. Bob Daniels, Anadarko’s Vice President added:
"The intermediate results of the Windjammer well are very positive for the partnership and the people of Mozambique. 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."
Once the deeper drill has been completed, Anadarko plan to move the rig, the Belford Dolphin drill ship, about 50 miles south-southeast of Windjammer, to the Collier prospect. The results from both the Collier and Windjammer drill will determine which prospects the company chooses…
