Dec. 2011 - Vanco Cote d’Ivoire and partners have made a discovery in the Independence-1X exploratory well in Block CI-401. The discovery has penetrated the targeted objective and found a series of good-quality sandstones containing light oil. Full review of well results, including wireline logs, reservoir pressures and fluid samples, confirm that the well penetrated 8 meters (26 feet) of hydrocarbon pay in good-quality Turonian-aged sand package. Recovered hydrocarbon samples from Independence-1X well indicate the oil registers at 40 degree API gravity. The operator will temporarily abandon the well at a total depth of 13,556 feet (4,132 meters). The Ocean Rig Olympia (UDW drillship) drilled the well in a water depth of 5,541 feet (1,689 meters). Vanco (Operator) holds a 28.34 percent participating interest.