Heritage announces Congo exploration success

Jul 10, 2001 02:00 AM

Heritage Oil announces that the M'Boundi Well 1 reached TD of 2,124 meters on July 4 and encountered an apparent 125 meter oil column in the primary target Vandji sands, with no defined oil-water contact. This discovery is in the 850,000 acre Kouilou Licence and is located 20 km north of the Kouakouala field that was brought into production last year in the Republic of Congo (Brazzaville). Heritage holds a 30 % interest in the Kouilou Licence.
These preliminary observations are based on observations while drilling and on log analysis. The well has been cased and will now be production tested to determine reservoir characteristics and production capability.
The M'Boundi discovery is the first exploration well drilled in the Kouilou licence by the joint venture that also includes Maurel & Prom (35 %, operator) and Tacoma (35 %). This discovery constitutes a potentially significant increase in reserves and production from the licence on which several other exploration prospects have been identified.

Heritage is an international oil and gas corporation. Heritage's principal properties are situated in the Republic of Congo, Oman, Angola, Uganda and India. Heritage's registered office is located in Calgary, Canada.

Source: Heritage Oil Corp.
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