West Africa Energy Inc.
TSX VENTURE : WAE

West Africa Energy Inc.

August 09, 2007 18:21 ET

West Africa Energy Inc.: Exploration and Management Update

LONDON, ENGLAND--(Marketwire - Aug. 9, 2007) - The Board of West Africa Energy Inc. (TSX VENTURE:WAE) is pleased to provide the following update on its operations.

Management Additions

West Africa Energy is pleased to announce that it has contracted with Dr. Iain Bartholomew as consultant Exploration Advisor. Mr. Bartholomew has close to 25 years of international experience in all facets of the exploration and management of oil and gas assets. Mr. Bartholomew started his career at Shell Petroleum and has work for major oil and gas producers, such as U.S.-based Amerada Hess where his positions included Director of Global Exploration Strategy; and Oryx Energy Company where he was Director of International Exploration. Whilst VP-Exploration and Geosciences with Pluspetrol, a significant Argentine private oil and gas operator, Mr. Bartholomew was instrumental in a number of high grade discoveries including the Shenzi Field in the Gulf of Mexico and a potential multiple TCF gas field in Venezuela. He holds a PhD in Structural Geology and an MBA, is a Fellow of the Geological Societies of London and Edinburgh, and was formerly Chief Geologist at CASP, a geological research institute based at Cambridge University, England.

West Africa Energy has also hired Mr. Oleg Rodkin as Exploration Project Manager for Russia and the Former Soviet Union (FSU). Mr. Rodkin holds an MSc in Petroleum Geology and has over 30 years' experience in the industry. He has dual Canadian/Russian nationality and is bilingual in Russian and English as well as being fluent in Spanish. He has been Vice President, Exploration, of Commonwealth Oil & Gas Ltd. in Baku, Azerbaijan; Operations Manager for Unocal Khazar Ltd. in Baku; Vice President of Nostra Terra (Cyprus) and General Manager of Nostra Terra (Ukraine); and has worked as Consulting Geologist with Unocal in the UK in their USSR Exploration Group. Mr. Rodkin is currently West Africa Energy's representative based in Krasnodar, southern Russia, close to the South Temryuk and Protoka properties.

Operational Update - Russia

In the South Temryuk permit near Krasnodar in south-west Russia, the first well is continuing to drill ahead at a depth of approximately 2,664 metres. Wireline logs were run at a depth of 2,115 metres, for the purposes of correlation. The logs showed that the geological formations are slightly deeper than expected from the seismic interpretation, which does not affect the potential of this stratigraphic prospect. However, the well will likely need to be drilled correspondingly deeper than previously planned.

A high-quality sandstone unit was encountered between 2,260 and 2,310 metres and provides additional reservoir potential across the whole permit area. It is a productive horizon in the nearby Kurchanskaya oil field. This sandstone will be evaluated fully during the next wireline logging run which will be at a depth of approximately 2,750 metres.

After logging, a decision will be made regarding setting the 245 mm (9.65 inch) casing string. This casing was planned to be set at 2,700 metres; however, depending on borehole condition it may be set as deep as 3,000 metres. This could allow a subsequent casing string to be eliminated with consequent savings of cost and time.

The first of the primary objectives, at approximately 3,270 metres depth, is still expected to be reached during the last half of October depending on drilling progress.

Mali Farmout Discussions

Discussions with qualified companies are continuing with regard to them farming-in to our Block 7 and Block 11 in Mali.

New Opportunities

West Africa Energy is regularly reviewing new opportunities with particular focus on properties with potential to be in production in the near term but also with exploration upside, in Russia, the FSU and west Africa.

ON BEHALF OF WEST AFRICA ENERGY INC.

Alec E. Robinson, President and CEO

This News Release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Statements:

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in West Africa Energy's periodic filings with Canadian Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. West Africa Energy Inc. does not assume the obligation to update any forward-looking statement except as required by applicable securities laws.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information

  • West Africa Energy Inc.
    Alec Robinson
    President and CEO
    + 44 (1372) 849-864
    Website: www.waecorp.com