VAALCO Energy, Inc. spudded the post-salt Kindele-1 well, its first exploration well on Block 5 offshore Angola. As previously announced, VAALCO contracted the Transocean 'Celtic Sea' semi-submersible rig to drill the Kindele-1 well to a planned total depth of 2,250 meters in a water depth of approximately 100 meters.
Steve Guidry, Chairman and CEO, commented, 'We are very pleased to announce this major step forward for our operations offshore Angola. After nearly nine years of continued commitment to our Block 5 license, we are embarking on an important phase in our efforts to explore for hydrocarbons from a second West African country. We continue to believe that Block 5 is within an area with potential in both post- and pre-salt formations including the syn-rift and sag play.'