Noble Energy Announces Discovery on Block 'I' in Equatorial Guinea



    HOUSTON, June 25 /CNW/ -- Noble Energy, Inc. (NYSE:   NBL) today announced
a new discovery on Block "I" offshore Equatorial Guinea.  Well "I-1", which
was testing the Benita prospect, encountered an extremely high quality Miocene
reservoir containing 135 feet (41.5 meters) of net hydrocarbon pay. 
Production tests from the well yielded flow rates of 1,038 barrels per day of
condensate and 34.3 million cubic feet per day of natural gas, or
approximately 6,755 barrels of oil equivalent per day (based upon a natural
gas to crude oil conversion ratio of 6 to 1), with production rates limited by
test facilities.  The "I-1" well, located in 2,880 feet (886 meters) of water
and approximately 25 miles (40 kilometers) east of Bioko Island, was drilled
to a total depth of 10,460 feet (3,218 meters).  It is approximately 13 miles
(21 kilometers) south of the Belinda discovery, located in Block "O", which
was announced in late 2005.  With the installation of cooling and processing
facilities, condensate yields can be increased.  As expected, the reservoir
section at the Benita discovery location is significantly thicker than at
Belinda, which is also Miocene in age.
    Additional appraisal work will be necessary to verify the areal extent of
the Benita discovery.  Any appraisal work will follow the drilling of an
additional exploration well in Block "I".  The company is currently carrying
out a multi-well exploration and appraisal program designed to test a number
of prospects in the region.  The Songa Saturn drillship will next move back to
Block "O" where it will drill a Belinda appraisal well located approximately
4.5 miles (7.25 kilometers) from the "O-1" discovery well. Current plans are
to return to Block "I" in the third quarter of 2007 to drill the second
exploration well.  Noble Energy is the Technical Operator of Block "I" with a
40 percent participating interest.  Its partners on the block include Atlas
Petroleum International Limited (54 percent participating interest), who is
the Administrative Operator, and Osborne Resources Limited, a company within
the PA Resources Group (six percent participating interest).  GEPetrol (the
national oil company of the Republic of Equatorial Guinea) has a five percent
carried interest once commerciality has been determined.
    Charles D. Davidson, Noble Energy's Chairman, President and CEO, said,
"Benita represents the first well ever drilled in Block "I" and complements
our Belinda discovery in Block "O".  While more drilling is needed to fully
understand our resource potential in the area, we are encouraged by this new
discovery and the potential commercial aspects of both blocks.  We now have
two discoveries with three wells drilled as we continue with our West Africa
drilling program.  Our next well, the Belinda appraisal well, will commence
later this month."
    The Minister of Mines, Industry and Energy, H.E. Atanasio Ela Ntugu Nsa
stated, "The Government of Equatorial Guinea is delighted that another
discovery has been made in the Equatorial Guinea part of the Douala Basin. The
Government believes that this new discovery further confirms the significant
hydrocarbon potential of the Douala Basin and highlights the positive
investment climate which currently exists within the Republic of Equatorial
Guinea."

    Noble Energy is one of the nation's leading independent energy companies
and operates throughout major basins in the United States including Colorado's
Wattenberg Field, the Mid-continent region of western Oklahoma and the Texas
Panhandle, the San Juan Basin in New Mexico, the Gulf Coast and the deepwater
Gulf of Mexico.  In addition, Noble Energy operates internationally in
Argentina, China, Ecuador, the Mediterranean Sea, the North Sea, West Africa
and Suriname.  Noble Energy markets natural gas and crude oil through its
subsidiary, Noble Energy Marketing, Inc.  Visit Noble Energy online at
http://www.nobleenergyinc.com.

    This news release may include projections and other "forward-looking
statements" within the meaning of the federal securities laws. Any such
projections or statements reflect Noble Energy's current views about future
events and financial performance. No assurances can be given that such events
or performance will occur as projected, and actual results may differ
materially from those projected.  Important factors that could cause the
actual results to differ materially from those projected include, without
limitation, the volatility in commodity prices for oil and gas, the presence
or recoverability of estimated reserves, the ability to replace reserves,
environmental risks, drilling and operating risks, exploration and development
risks, competition, government regulation or other action, the ability of
management to execute its plans to meet its goals and other risks inherent in
Noble Energy's business that are detailed in its Securities and Exchange
Commission filings.





For further information:

For further information: Chris Tong of Noble Energy, +1-281-872-3122, 
Investor_Relations@nobleenergyinc.com Web Site: http://www.nobleenergyinc.com

Organization Profile

NOBLE ENERGY, INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890