Bissau: Notícias de petróleo são muitas

CAP Energy, a company listed on the ISDX Growth Market focused on the exploration, production, and development of oil and gas primarily in sub-Saharan Africa, has announced the results of an independent re-assessment of 2D seismic data by Gas Mediterraneo & Petrolio relating to the Company's two Guinea-Bissau licences. Block 5B (Cap Energy interest 27%) covers 4,800 sq kms and is located offshore Guinea- Bissau with water depths ranging from 250 metres to 4,.500 metres. Block 5B has been covered with approx. 1,532 kms of 2D seismic in 2011 and 1,500 kms in 2013. Vintage 2D seismic of approx. 1,900 kms shot during 1981 to 2000 was also acquired by CAP Energy. The hydrocarbon prospectivity was assessed on the basis of the various seismic surveys and with the availability of all the well information and petrophysical information to enhance the multiplay exploration interpretation. Volumetrics for 21 leads with surface closures bigger than 10 sq kms have been calculated. The identified structures are located at water depths ranging from 1,000 metres to 3,500 metres and variable target depths from sea bottom 800 metres to 2,650 metres. The aggregate Prospective Resources of the block is as follows: P50 STOOIP value 22,083 MMbbls, P10 STOOIP value 34,381 MMbbls, P90 STOOIP value 12,439 MMbbls. Recoverable values are respectively P50: 7,729 MMbbls, P10: 4,354 MMbbls, P90: 12,003 MMbbls. The re-interpretation of Block 5B indicates that the block has a strong analogy with the Sangomar Deep licence in Senegal and the recent discoveries SNE-1 and FAN-1 announced by Cairn Energy. Two of the interpreted prospects in Block 5B are similar to the two discoveries in Senegal. Block 1 (Cap Energy interest 24%) covers 4,800 sq kms offshore Guinea-Bissau with water depths up to 100 metres. Block 1 is located in an emerging shelf margin where appraisal wells have recently been drilled and development plans are starting in adjacent blocks. Block 1 has been covered with 1,530 kms of 2D seismic in 2013. Vintage 2D seismic of about 1,300 kms acquired through 1981 to 1988 was also available. The hydrocarbon prospectivity was assessed on the basis of the various seismic surveys and with the availability of all the well information and petrophysical information to enhance the multiplay exploration interpretation. The aggregate Prospective Resources of the block is as follows: P50 STOOIP value 1,100 MMbbls, P10 STOOIP value 2,060 MMbbls, P90 STOOIP value 308 MMbbls. Recoverable values are respectively P50: 275 MMbbls, P10: 515 MMbbls, P90: 77 MMbbls. Background In February 2013, CAP acquired 85.7% of the shares of Sphere Petroleum, a company that holds 35% participation interests in two explorations licences in the Republic of Guinea-Bissau. CAP Energy’s interests in Block 1 and Block 5B were officially gazetted by the Government of Guinea-Bissau on 19th February 2013. Petroguin, the national oil company, is a carried partner during the exploration period. Block 1 (Corvina) and Block 5B (Becuda) are located offshore Guinea-Bissau in the productive Mauritania-Senegal-Guinea-Bissau-Conakry Basin. Atlantic Petroleum Guinea-Bissau, a subsidiary of Trace Atlantic Oil, is the operator with a 65% interest in the licences. Topics: Project Location: Guinea-Bissau Industries: Oil and Gas Organisations: Cap Energy Reference: Company news item Contact E-mail Address: N/A Date Posted: 24.Mar.2015