• Barquentine-2 was drilled to a total depth of 13,500 feet in Offshore
Area 1 (APC WI 36.5%) of the Rovuma Basin in a water depth of
approximately 5,400 feet. The well encountered more than 230 net feet
of high-quality gas sand in static communication with the Barquentine-1
well, located 2 miles to the northwest. The entire reservoir section was
cored and will be used to help optimize the development plan for the
area. The Barquentine-2 wellbore has been temporarily abandoned and
will be used in a testing program in early 2012.
• Subsequent to quarter end, Anadarko announced the results of the
Camarão-1 well. The appraisal section of the well encountered
approximately 240 net feet of natural gas pay in an excellent-quality
reservoir and confirmed static pressure connectivity with previously
announced discoveries at Windjammer and Lagosta. The well also
discovered approximately 140 net feet of natural gas pay in shallower
Miocene and Oligocene sand packages. The well was drilled to a total
depth of 12,630 feet in water depths of approximately 4,730 feet. The
Camarão well has been saved and will be used in the upcoming DST
program.
• Based upon the five successful penetrations in the complex to
date, the confirmed static pressure connectivity and the numerous
cores that have been analyzed, the company has a high level
of confidence that the Windjammer, Barquentine and Lagosta
complex holds in excess of 10 trillion cubic feet of recoverable
natural gas resources. Given the increased recoverable resource
base potential of this complex, initial development plans have
been expanded to a minimum of two 5-million-tonne-per-annum
LNG trains with the flexibility to develop additional trains based
upon continued exploration and appraisal success. Once the
first two trains are constructed, this infrastructure is expected
to provide economies of scale that can significantly reduce
expansion costs for additional trains.
• The Barquentine-3 appraisal well is currently being drilled and
the rig will continue to drill appraisal wells through the end of
2011. The company is in the process of mobilizing a second rig
to Mozambique late in 2011 to conduct an extensive reservoir
testing program and up to seven exploration/appraisal wells
during the next 12 months.
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