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London-listed junior Equator Exploration, which focuses on West Africa, and its partner Peak Petroleum announced Monday a gas discovery at Nigeria's offshore license OML 122 in the western Niger Delta.
The venture struck gas at the B-DX1 exploratory-appraisal well, at the site of a discovery made by Deminex Oil in the 1970s. The original well tested an oil zone and encountered several gas zones. Recently reprocessed 3-D seismic suggests these are significant, Equator said.
OML 122 covers around 1,295 square kilometers in water depths of up to 300 meters. Equator said the discovery...