ASX and Media Release
Friday 16th November 2007
DRILLING OF KILIWANI #1 IN TANZANIA COMMENCES
Drilling has started on Key Petroleum’s (ASX code: KEY) Kiliwani prospect in Tanzania with the well spudded on 15th November 2007.
Kiliwani-1 is being drilled from the island of Kiliwani lying approximately 1 km to the south-east of Songo-Songo Island and approximately 4 km from the producing Songo Songo gas field. It will be a directional well with the selected bottom hole location approximately 1,200 metres from the surface location. Drilled depth is planned to be approximately 2,500 metres and the target location is designed to test Lower Cretaceous sandstones which are the producing reservoirs at the Songo Songo gas field. The well will take approximately 40 days to drill to the total depth (TD).
Kiliwani #1, is the first in a 2 well programme. The second well, Kiliwani North #1, will test this same reservoir system but will also be targeting a shallower oil play.
Ken Russell, managing director and CEO of Key Petroleum said, “Our team in Tanzania did a good job to relocate the rig to the Kiliwani #1 well site. The relocation took less time than originally planned. We now look forward to this second phase of the project, the actual drilling of Kiliwani #1.”
During drilling operations the company will issue regular releases every Tuesday or at such times as material matters require an earlier release.