September 12, 2008

RWE Dea Discoveries Oil in Libya

RWE Dea has announced that it has made the sixth and seventh discovery in the Libyan Sirte Basin. Two exploration wells in the NC193 concession encountered oil bearing reservoirs.

The first exploration well, E1-NC193, drilled by the Nabors F16 rig, tested oil at a rate of 704 barrels per day (bbls/day) from the Dahra Formation at a depth of 4,823ft.

The second exploration well, F1-NC193, drilled by the Ensign-45 rig, encountered oil in the Upper Dahra Formation at a depth of 4,418ft and tested at a rate of 439bbls/day.