PARIS--(BUSINESS WIRE)--Regulatory News:
Etablissements Maurel & Prom (Paris:MAU) (Euronext Paris: MAU, ISIN FR0000051070, “M&P”) announces the completion of drilling operations on the Kama-1 exploration well on the Kari licence in south Gabon.
The well encountered several series of oil shows between 1,865 and 2,701 metres (total depth of the well) in the Kissenda formation, main objective of the drilling, and a sample of 35° API oil has been collected.
However the mediocre quality of the reservoirs did not justify a commercial test.
The drilling nevertheless confirms the presence of an active petroleum system in the region. It also provided additional data which will be helpful for the continuation of exploration activities in the area, and in particular for the definition of the second well.
For more information, visit www.maureletprom.fr
This document may contain forward-looking statements regarding the financial position, results, business and industrial strategy of Maurel & Prom. By nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors, such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.
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Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA