Pharos Energy plc encountered oil at Batran-1X exploration well in the Abu Roash Lower “G” (LARG) and the Upper Bahariya (UB) reservoirs in Egypt, according to Pharos Energy’s press statement.

Ed Story, President and Chief Executive Officer, commented: “In Egypt the Batran-1X exploration commitment well has encountered oil in the Abu Roash Lower “G” (LARG) and the Upper Bahariya (UB) reservoirs. This modest discovery reconfirms the potential for additional oil on the El Fayum concession.”

The Batran-1X commitment exploration well was drilled 4 kilometers west of the Main Tersa-1X well on a fault-bounded and three-way-closed dip potential.

Per the statement, the well encountered 15.85 meters of net oil pay in the LARG and UB sands. In addition, oil was encountered whilst drilling in the Abu Roash “A”, “D” and “E” sands.

The Batran-1X well will be completed as a potential future producer in the LARG and UB reservoir sections, using a workover rig as part of El Fayum field activities ramp up phase.

Additionally, the LARG and UB discoveries have preliminary post-well in-place volume and resource estimates of 4.3 million barrels (mmbbl) and 430,000 barrel, respectively.

It is worth noting that El Fayum concession prospect and lead inventory has an estimated unrisked in-place volume potential of 400 mmbbl in 40 prospects all with the same geology and covered by the existing 3D seismic.