Madagascar Oil Ltd is looking for a partner to share the risk of drilling an exploration well in Block 3104 in the Morondava Basin Madagascar Oil holds a 100% interest in the licence. The company has a USD 20 million three-well drilling programme that it expects to start in June 2019. The Tsimiroro lights oil prospect has an estimated recoverable resource between 85 MMbo to over 1 Bbo. The prospect is located south of the heavy oil Tsimiroro field and north of the Manadaza light oil discovery. The wells will target the 200 m thick Lower Sakamena sandsatone expected at a depth of 700 m.   Interested parties can contact Ian Cross at Moyes & Co:  icross@moneysco.com  +65 9776 0753  The manadaza discovery well was sourced by the Middle Sakamena shales and contains light oil of 41Â° API. The well was drilled in 1991 by Shell.  The Tsimiro heavy oil field is located within the same licence and is also sourced by the Milldes Sakamena shales. Madagascar Oil announced in December 2018 plans to restart commercial operations at the field. Initial production will start with 4,000 b/d and production will be extend to 35,000 b/d in a second phase.
Madagascar Oil Ltd is seeking partners to drill exploration wells in Block 3104