UK-based Afren said Monday it discovered two ‘potentially good’ pay zones at its operated block 1101 in onshore Madagascar.
Four strategic locations at the 2.8 million acre block were successfully drilled and cored to an aggregate depth of 6,500 feet with 5,720 feet of core samples recovered.
Two core holes were drilled to depths of 2,112 feet and 1,625 feet adjacent to the 1902 coal borehole, also known as Ankaramy-1, that had reportedly encountered hydrocarbon shows.
Cores recovered from both locations indicated the presence of hydrocarbons and “potentially good reservoir quality over multiple zones,” the company said.
Afren said early indications provide evidence of at least three different source rocks working across the block in the Triassic, Jurassic and Cretaceous zones.
Further detailed analysis of the cores will be performed in the first quarter of 2015 to confirm the nature and extent of the hydrocarbon shows.
“We have made good progress on Block 1101 with encouraging results indicating the presence of oil over several zones. This underscores the high quality of our East African portfolio and we look forward to working with our partner to determine the nature and extent of the discovery,” Afren interim CEO Toby Hayward said.
Afren holds a 90 percent operating interest in block 1101.
Vancouver-based Oyster Oil and Gas holds a 10 percent interest.