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EFORA ENERGY LIMITED - Operational Update Egypt

Release Date: 05/12/2017 13:49
Code(s): EEL     PDF:  
Wrap Text
Operational Update – Egypt

EFORA ENERGY LIMITED
(Formerly SacOil Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
Share Code: EEL
ISIN:     ZAE000248258
(“Efora” or “the Company”)

OPERATIONAL UPDATE – EGYPT

Completion of Pilot Well Lagia #14

Efora, the South African based independent oil and gas
company, is pleased to provide the following update on its
wholly owned and operated operations at the Lagia field in
Egypt.

Further to the update provided on 29 November regarding the
spudding of the Lagia#14 pilot well, Efora is pleased to
announce that drilling operations on the well have
successfully and safely concluded on time and on budget.

The well intersected 98 ft of Nukhul Zone 3, the main
hydrocarbon bearing interval in the Lagia field. The well was
logged and perforated by the 1st of December and is undergoing
cleaning operations whilst the surface pipeline network is
being hooked up for steam injection ahead of the well being
placed on production later this month. The technical team will
monitor the production data over the coming months to
establish the optimum forward development strategy for the
wider Lagia field.

Sponsor
PSG Capital Proprietary Limited

5 December 2017

For further information please contact:

Efora Energy Limited
Damain Matroos
+27 (0)10 591 2260

Buchanan (Financial PR adviser)
Ben Romney / Chris Judd
+44 (0)20 7466 5000

About Efora

Efora Energy Limited is a South African based independent
African oil and gas company, listed on the JSE. The Company
has a diverse portfolio of assets spanning production in
Egypt; exploration and appraisal in the Democratic Republic of
Congo; midstream project relating to crude trading in Nigeria
and material downstream distribution operations throughout
Southern Africa. Our focus as a Group is on delivering energy
for the African continent by using Africa’s own resources to
meet the significant growth in demand expected over the next
decade.

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