Energy Africa and Amerada Hess find oil offshore Equatorial Guinea

Energy Africa, South Africa's biggest oil-exploration company, and its partner Amerada Hess have found oil in Equatorial Guinea, extending the size of a discovered offshore reservoir by more than expected. Energy Africa said the discovery was made at a second well in the Elon Field off the coast of the west African state. The drilling showed the field was bigger than previously expected, it said.
"The results of the Elon-2 well are very positive," said Rhidwaan Gasant, Energy Africa's managing director.

New York-based Amerada Hess owns 85 % of the Elon field, with Energy Africa holding the remaining 15 %. Amerada Hess and Energy Africa said they abandoned a well drilled off the coast of Equatorial Guinea in the Rio Muni basin because they did not find oil. Amerada Hess said it planned to drill four more wells in the region this year.
Energy Africa, which is controlled by Petroliam Nasional, said a R 2 bn offer for the remaining shares in the company by the state-owned Malaysian oil company was too low.