28.07.2008
Libyaninvestment.com

On 28/07/2008, NOC announced that the Canadian Company, Verenex Energy, has made a new oil discovery in the well A1-47/04 in Ghadames Basin, which is approximately 250 km south west of Tripoli.
An initial production test, of Lower Acacus and one Al-momnyat  Formation zones were successfully produced th following rates:
formations            Depth (meter)          Choke         Oil Rate                  Oil Gravity
                                                           (Inches)         (bb/day)                   (API)
1. Al-momnyat     10189                     64/32               1399                         49
2. lower Acacus     8045                      32/64                1535                       39
 
Verenex Energy and its partner MEDCO hold together a 13.7% interest (50% each Company) under an EPSA Agreement signed with NOC, which holds an 86.3% interest under the said Agreement.

[NOC Libya ]