OML115 lies in a prolific area of the eastern Niger delta, close to the giant Alba and Zafiro fields over the border in Equatorial Guinea.

The block lies immediately adjacent to the Okwok Field, currently being appraised by Addax Petroleum.  Several exploration prospects are identified in OML115. The permit was originally awarded as OPL 224 to the Nigerian oil company Oriental Energy Resources Ltd in 1990. The acreage was subsequently explored with technical partner Conoco until 1994 when Conoco reassigned its 40% interest back to Oriental after drilling three exploration wells. The acreage was converted to OML status in 1999 based on the commerciality of the Ufon gas discovery; however this discovery has not yet been developed. Nexen farmed-in to the block in 2003 and drilled one well, Ameena 1 which was water-wet, and Nexen has since withdrawn. EER farmed-in to OML115 in October 2006.  EER is the technical advisor to the operator (Oriental) and will earn a 40% interest in the block.

The partners will focus their initial exploration in 2007 on drilling the lower risk shallow prospects close to the Okwok field, with the expectation of a higher likelihood of success and faster progress towards production.  Long-term, we will target prospects in deeper horizons geologically similar to those of the nearby giant Zafiro field.