Vancouver, BC / ACCESSWIRE / October 22, 2014 / Oyster Oil and Gas Ltd. ("Oyster" or the "Company") is pleased to provide an update on the ongoing drilling and coring program in Block 1101 onshore Madagascar.
Two wells located in the central part of the block have been successfully drilled and cored; the total combined drilled depth at these locations was some 850m. Both wells successfully completed their objectives to assess specific geological criteria at these locations.
The surface casing has been set at the next location and the rig is currently being mobilized to drill two further wells at Ankaramy. These wells are located close to the only previous well in this onshore block drilled in 1902, which reportedly had "shows" and recovery of hydrocarbons to surface. The objective of these wells will be to evaluate the structure which is defined by a limited amount of seismic.
Oyster holds a 10% working interest in Block 1101.
About Oyster Oil and Gas Ltd.
Oyster is an oil and gas exploration company with a focus on Eastern Africa. Oyster holds production sharing contracts interests with the Government of Djibouti and the Government of Madagascar. Oyster holds four blocks comprising approximately 3.5 million acres onshore and offshore in Djibouti; and holds a working interest in an onshore block in Madagascar covering approximately 2.8 million acres.
For further information please contact:
Martin Bajic, Chief Financial Officer
Tel: (604) 628-5621
Fax: (604) 662-7950
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Suite 918-1030 West Georgia Street
Vancouver, British Columbia
Canada V6E 2Y3
Tel. No. (604) 628-5621
Fax No. (604) 662-7950
SOURCE: Oyster Oil and Gas Ltd.