Noble joins Senegal-Guinea-Bissau exploration

By OGJ editors
HOUSTON, June 8
-- Noble Energy Inc. has joined a venture that is exploring the AGC Profond block off Senegal and Guinea-Bissau in West Africa.

The unexplored AGC Profond block, covering more than 2 million gross acres in as much as 11,500 ft of water, is in a designated cooperation area between the two countries. The venture has identified a number of prospects and leads on the acreage, and 45% of the block is covered by 3D seismic.

The first target to be drilled is the Kora prospect in the northern part of the block, nearly 65 miles
offshore in 8,600 ft of water. Kora has a Cretaceous oil target with gross resources estimated at 450 million bbl of oil equivalent. Noble Energy estimates the chance of success at Kora at 20%.

The Maersk Deliverer rig is to spud in late June and drill to a total depth of 15,200 ft by the end of August.

Ophir AGC Profond Ld. will operate the Kora-1 exploratory well and, in the event of a discovery, Noble Energy will become the operator for appraisal and development.

Noble Energy has a 30% working interest. Other interest owners are Ophir with 36.7%, Rocksource AGC Profond AS 12.5%, and FAR Ltd. 8.8%. L’Entreprise, the AGC state entity, has 12% interest.



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