Tanganyika Spuds Test Well In Tanzania
VANCOUVER, BRITISH COLUMBIA--(TYK-CDNX) Tanganyika Oil Company Ltd. (the ``Company'') is pleased to announce that drilling operations
commenced at the Mbate-1 location in southern Tanzania on November 12, 2000 (please see attached map).
This exploratory well will test a broad, fault-bounded structure in the 1.25 million acre Mandawa Concession. Total depth of the well is projected at 8,000 feet with the Middle Jurassic sands
being the primary hydrocarbon target.
Upon completion of the Mbate-1 test, a second exploratory well, Mita Alpha-1 is scheduled to be drilled on a distinctively separate prospect 15 kilometers to the southeast.
This drilling initiative is the result of extensive geotechnical studies and critical data garnered from Tanganyika's 1996/97 two-well drilling campaign and the 1999 seismic and geochemical
surveys. This information proved conclusively the presence of light oil in the basin and the existence of thick reservoir quality Jurassic sand mounds or fans. The Mbate and Mita Alpha
prospects have been interpreted as closed, fault-bounded structures of predominantly thick sand/shale sequence favourably positioned in proximity to strong oil shows recorded in Tanganyika's
1996 Mita Gamma-1 well.
Tanganyika Oil Company Ltd., through its wholly owned subsidiary, Dublin International Petroleum (Tanzania) Limited has a 75% interest and will be the operator of the Tanzania drilling
initiative. Energy Africa Tanzania Limited, holding a 25% interest, is a wholly owned subsidiary of Energy Africa Limited with corporate offices in Cape Town, South Africa.
On behalf of the Board
Edward L. Molnar, President |
