Eland Oil & Gas provides update on Opuama-8 and 9 infill wells
Tuesday, Feb 13, 2018
Eland Oil & Gas PLC is pleased to announce the following update on the Opuama-8 and Opuama-9 wells in licence OML 40.

Opuama-8 initial gross production on a 40/64" choke has been recorded at over 6,200 bbls of oil per day (bopd) and at the upper half of the Company's previously expected production range. Production performance from Opuama field is strong, with gross production from all four wells being circa 22,000 bopd.

Testing and production of the three reservoirs penetrated by well Opuama-8 continues. The deepest of the reservoirs tested, the D5000, flowed at 3,250 bopd on a 40/64" choke with a flowing tubing head pressure (FTHP) of 50 bar (725 psi) while the shallowest tested, the D3500, flowed at 2,980 bopd on a 40/64" choke with a FTHP of 47 bar (680 psi). Testing of the third reservoir, the D4000, will commence shortly. The test rates are encouraging and within expectation.

The drilling of the Opuama-9 infill well by the OES Teamwork Rig continues, although there have been some delays due to mechanical issues with the Rig. The 16" hole has been drilled to a depth of 3,348 ft and the 13 3/8" casing has since been run. The rig has begun to drill the 12 ¼" hole with current depth 6,016 ft to a targeted Total Vertical Depth (TVD) of 9,033 ft. Completion and Production from Opuama-9 is expected within Q1.

George Maxwell, CEO of Eland, commented:

"We are delighted to announce a further significant increase in Opuama production from the successful completion and test of the Opuama-8 infill well. Adding the incremental flow rates from this highly productive well has once again pushed Opuama field to the highest recorded levels in its history.

Our focus on the Opuama-9 infill well and the near-term work programme continues and I look forward positively to updating the market further as Elcrest, together with our partner NPDC, achieve more success on the OML 40 license which is becoming one of the largest producing assets of any E&P company on AIM."

For more information, please visit: http://www.elandoilandgas.com

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