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PRODUCTION ACTIVITIES AT BILABRI FIELD:


The Bilabri Oilfield is located at the northern part of OML 122 and covers approximately 5-7sq km, Water Depth: 150m and Distance from shore: ~48km.


The Bilabri Field was discovered by Deminex in 1973-1974 and is fully covered by 3-D seismic acquired by Peak in 1994 - 1996. Total of 6 Wells drilled to date of which Peak drilled 4 of the Wells between 2005 - 2007.


The field has one main crude oil sand (the C2 Sand) and five main gas sands. The known reservoirs in the Bilabri field have been fully explored, appraised and significant amount of data on the reservoirs gathered by Peak.


PEAK's first well, the Bilabri DX-1 was drilled and production tested during the first quarter of 2006. The Bilabri DX-1 well discovered a 21m thick oil rim in the C2 sand overlain by 25m gas cap. The Oil Sand Reservoir contains excellent grade, high quality crude oil with an API of 39 degrees.


Well Test Outcome:

1. Excellent Reservoir Quality confirmed (even better than expected).

2. Expected Oil Gravity & GOR confirmed - The Crude Oil Gravity, expressed by an API (American Petroleum Institute, the World and Industry Standard) of 39.2 degrees confirm the crude oil as light crude.

3. Confirmed a very low GOR (Gas Oil Ratio which is the amount of entrained gas produced with every barrel of oil).

 
4. Expected Reservoir Pressure confirmed.

Bilabri DX1 well flow testing - (Aboard Bulford Dolphin rig, OML 122)


Bilabri exploration well flowing (Aboard Bulford Dolphin Drilling Rig)