The Lolotoe prospect is a robust three way dip faulted anticline having about 300 meters of vertical relief. The prospect is targeting a mean prospective oil resource of 90 million barrels (100% basis) in the primary objective Elang/Plover formations. The water depth at the proposed well location is 105 meters.
The reservoir objectives penetrated in the Lolotoe-1 well will be evaluated by a full suite of data including mudlog, real time drilling data and wireline logs after the well reaches total depth to determine presence of hydrocarbons. The well design does not include drill stem tests and will be plugged and abandoned when
the evaluation is concluded.
Oilex is the operator of the JPDA 06-103 joint venture. The participating interests are: Oilex (JPDA 06-103) Ltd (operator) with 10%, Global Energy Limited (Videocon) with 25%, GSPC (JPDA) Ltd with 25%, Bharat PetroResources JPDA Limited with 25% and Japan Energy E&P JPDA Pty Ltd with 15% stake.
