Sterling Energy has been left disappointed after its first well on the giant Ntem prospect off Cameroon came up dry.
The African-focused firm, which lifted force majeure on the site earlier this year following a near decade-long dispute over borders, said it had failed to yield oil from the Bamboo 1 well.
The well, drilled with operator Murphy, reached a total depth of 4747m before being plugged and abandoned.
“Bamboo-1 was the first well in a large unexplored area,” said Sterling chairman Alastair Bearsdsall.
“We have identified further Cretaceous and Tertiary prospects in the Ntem block and these will be re-evaluated with the significant new data from Bamboo-1 before determining our future plan for the Ntem block.’
The prospect, around 56km from the Cameroon coast, is thought to contain up more than 400million barrels of oil and 170billion cubic feet of gas.
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