Rialto Energy Limited provides the following update of the Starfish-1 oil exploration well in the Offshore Accra Contract Area, Ghana.

The well will target a large stratigraphic trap in the deep water of eastern Ghana, interpreted to be potentially comparable to the Jubilee oil field in western Ghana.

Location and Proposed Depth

The Starfish prospect is located in the Offshore Accra Contract Area in offshore Ghana along the prolific offshore West African Margin. The Starfish prospect was matured following reprocessing of the original 3D seismic data and the acquisition of the new 3D survey in 2011 over the outboard deep water area.

The Contract Area is now covered by quality 3D seismic data. In the event of a discovery at Starfish-1 confirming a significant petroleum system, there are a number of other leads and prospects identified on the block that would be of interest. The Operator, Ophir Energy, continues to work on the existing lead and prospect inventory.

Tags: Rialto Energy