Africa Oil -- on behalf of its 51%-owned subsidiary Horn Petroleum -- said Thursday that its Shabeel-1 well in Puntland, Somalia, has encountered oil and gas shows and has not yet reached its target depth (IOD Jan.18'12). The company said that the well is currently at a depth of 2,703 meters and that logs indicate the potential presence of a pay zone between 12 and 20 meters.
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