Eco (Atlantic) Oil & Gas has reported a major oil discovery from the Jethro-1 exploration well drilled on the Orinduik Block, offshore Guyana.
The Stena Forth drillship was used to drill the Jethro-1 exploration well to a final depth of 4,400m in about 1,350m of water.
After assessing logging data, it was confirmed that the well is the first discovery on the Orinduik licence and consists of quality oil bearing sandstone reservoir of Lower Tertiary age.
It encountered 55m of net high-quality oil pay in excellent lower Tertiary sandstone reservoirs.
Jethro-1 will now await further evaluation to determine the appropriate appraisal activity.
Eco Atlantic COO and co-founder Colin Kinley said: “This discovery was made due to our team at Eco and Kinley Exploration stepping out beyond the conventional exploration plays and seeking new resources through old-fashioned exploration science.
“The Jethro-1 well confirms the continuance of the petroleum system onto the Orinduik Block, up dip from the prolific discoveries on the Exxon operated Stabroek Block.
“The well has resulted in a mitigation of risk of the presence of quality reservoir sands, seal and trap parameters.”
Eco Atlantic plans to move the Stena Forth drill ship immediately to its next target, Joe-1, expected to spud mid-August.
Last month, Eco Atlantic started drilling operations for the first well in the Jethro-Lobe prospect on the Orinduik block.
The Jethro Lobe prospect is part of a two-well programme and will be followed by the drilling of an exploration well on the Joe prospect.