A joint venture exploring the Accra area off the Ghana coast has been granted a six-month extension by the Ghanian government.
The joint venture, which includes Tap Oil, Rialto and operators Ophir Energy, will now be able to continue exploration work on the field until March next year.
After that date the partners will need to decide whether or not to extend their exploration deal further.
Rialto said today the extension would give the companies the chance to review data from the recently abandoned Starfish-1 well.
“Drilling of the Starfish-1 well commenced on 19 June 2013 and logs indicate that the primary and secondary targets were water bearing sands,” the company said in a statement.
“Rialto considers there is possible evidence of residual oil in the primary and secondary targets which may provide support for an active petroleum system in the block.”
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