10 October 2012, Sweetcrude, YAOUNDE – ADDAX Petroleum, a subsidiary of China’s state-run Sinopec, says it has hit oil and gas at an offshore play in Cameroon.
The company said it hit the new find with the Padoux-IX exploration well drilled on its Iroko block in the Central Africa country, according to Reuters report.
Addax said in a press statement it issued jointly with Cameroon’s state oil company SNH: “The Padoux-IX well has logged 38.6 metres total vertical depth of net oil and 65.1 metres total vertical depth of net gas in six sands.
“Provisional contingent resources are 20 million barrels of oil and 200 billion cubic feet of gas from these reservoir layers(…) However, more tests will be conducted and additional work at the prospect is needed to determine the extent and commercial viability of the discovery.”
