Drilling starts at Afren's Ghanaian well
FTSE 250 oil and gas company Afren has announced that Eni Ghana has started drilling the Nunya-1X exploration well on the Keta black, offshore Ghana, in which it owns a 35% interest.
FTSE 250 oil and gas company Afren has announced that Eni Ghana has started drilling the Nunya-1X exploration well on the Keta black, offshore Ghana, in which it owns a 35% interest.
The Nyunga prospect is a "four-way dip closed structure with a primary reservoir target comprising Upper Cretaceous deep-marine fan sandstones that are analogous to those that have yielded significant discoveries elsewhere along the West Africa Transform Margin," Afren said.
The block is located in the Volta River Basin off the coast of eastern Ghana,.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chief Executive Osman Shahenshah said: "Having made a successful start to our 2012 exploration drilling campaign with the Okoro East discovery, and with the JS-2 exploration well drilling ahead in the Kurdistan region of Iraq, the Company is firmly engaged in its most active phase of exploration activity to date with multiple wells planned across Afren's core areas, each of which has the potential to materially increase the Company's discovered reserves base."
Shares were trading down 0.37% at 133.5p in early trading.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.