Independent E&P company Panoro Energy announced on Wednesday that the recent pre-drilling campaign in the Hibiscus exploration zone offshore Gabon has revealed an absence of hydrocarbon potential, despite indications by previous seismic studies.

The DHIBM-2 appraisal well, the first well drilled in a three-well campaign on the Dussafu Marin Permit, was planned as a vertical well to test structure, oil and reservoir presence. However, the drilling revealed water deposits instead of oil reserves.

“We are clearly disappointed with the result of the Hibiscus Extension well which, if successful, would have made the Hibiscus zone even larger than the initial discovery. However, we remain extremely confident about the exploration potential remaining in this huge block.

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Source: AfricaOilandPower