The two AIM quoted oil and gas players that hold minority interests in the potentially significant Zaedyus oil discovery in Guyane, said today that further drilling on the licence had been slated for later this year.
Northern Petroleum (LON:NOP) and Wessex Exploration (LON:WSX) each hold a 1.25% interest in the Shell-operated Guyane Maritime block. Last year, the then-operator Tullow Oil (LON:TLW) made a major discovery with the wildcat Zaedyus exploration well, where 72 metres of net oil pay was discovered in two turbidite sand systems.
Shell now wants to drill again, with a second phase of drilling that will involve the spudding of a de-lineation well on the discovery. That is likely to be followed by an exploration well on one of the neighbouring prospects within the area captured by 3D seismic survey. Additional 3D seismic is also planned to be acquired from mid-year to further delineate leads on trend and similar to the Zaedyus discovery mapped on 2D seismic along the length of the deepwater margin.
Shell has contracted the Stena DrillMax ICE drill-ship, which is expected to commence operations mid-year subject to government consents.
Shell has a 45% interest in the permit, with Tullow holding 27.5% and Total holding 25%. Last month Total made an approach to buy Wessex in a deal worth 10p per Wessex share but the company rebuffed the offer.
