The African Petroleum  Corporation  Limited  has  announced  another oil  discovery  at  the  Bee  Eater-1  Well  in  Multiple  Zones  in  Block  LB-09. 

In a joint press statement by African Petroleum and the National Oil Company of Liberia (NOCAL), the Bee Eater-1  Well  was  drilled  9.5  km  west  of  the  original  Narina-1  oil  discovery  and  was  targeting  the  same formations.  

The  Company  confirms  that  it  has  encountered  48  metres  of  oil  bearing  Turonian  sandstone,  in  the  same sequence  as  the  discovery  in  Narina-1.  However, the joint press statement says reservoir permeabilities over  the  hydrocarbon  bearing section  of  the  well  are  lower  than  anticipated  and  further  investigation  is  underway.  

In   addition,   the   Company   confirms   that   Bee   Eater-1   encountered   14   metres   of   Albian   oil   bearing sandstone  in  the  Darter  prospect,  indicating  the  potential  of  the  Albian  play.  

Whilst   these   results   are   encouraging   and   confirming   Company   hypothesis,   more   studies   and   more  exploration  drilling  will  be  needed  before  reserves  numbers  are  confirmed  and  development  planned, the statement maintains.

The  Company  has  also  indicated  that  it  is  currently  sourcing  an  alternative  rig  to  the  EirikRaude,  to continue  its  exploration  activities  in  Liberia.

Pierre Raillard, African Petroleum Corporation Limited Director West Africa and Israel Akinsanya, II, NOCAL Vice President for Public Affairs signed the joint press statement.

The pronouncement followed an oil discovery by the company last year (2012).

The new discovery adds to the already heated debates-whether blessing or curse-which was sparked by the first discovery.