News listings

energy-pedia general news

Sierra Leone flagSierra Leone

Middle East / Africa >>> Sierra Leone

Sierra Leone: African Petroleum announces upgraded prospective resources in Sierra Leone

27 Dec 2017

Photo - see caption

African Petroleum announced December 21 an update, on behalf of its wholly owned subsidiaries European Hydrocarbon and African Petroleum Sierra Leone, to the prospective oil resources at the 100% owned and operated licence blocks SL-03 and SL-4A-10, offshore Sierra Leone. 

The Company engaged the independent petroleum consultant, ERC Equipoise ('ERCE'), to prepare an updated assessment of prospective oil resources attributable to the Company’s Sierra Leone Licences (the 'ERCE Letter'). The ERCE Letter of prospective resources includes six undrilled prospects and estimates the net prospective oil resources relating to the Sierra Leone Licences as follows: 

Photo - see caption

The upgrade to the independently assessed prospective resources follows the recent announcement on 5 December 2017 regarding the entry into the Second Extension Periods for the two Sierra Leone Licences and takes into account two new material prospects identified by the Company: Leo and Vega.

Pursuant to its commitments on the licences, African Petroleum will, on conclusion of further assessment with ERCE, provide the Sierra Leone Petroleum Directorate with confirmation of its drilling programme ahead of the notification deadline of 31 October 2018 for both SL-03 and SL-4A-10.  

Commenting on the update, African Petroleum’s CEO Jens Pace said:

'We are delighted that we have seen such a material increase in our independently assessed prospective oil resources in Sierra Leone to over 2.5 billion barrels (unrisked). African Petroleum has experienced increased industry interest in this acreage due to technology improvements and cost reductions in ultra-deep water drilling together with the materiality of the prospects identified by the Company on the SL-03 and SL-4A-10 licences. We will continue our de-risking efforts on these licences and, in due course, work towards formulating a suitable drilling strategy that meets with the current licence commitments.'

Photo - see caption
SL-03 and SL-4A-10 (Source: African Petroleum)

Original article link (contains ERCE Report)

Source: African Petroleum

Bookmark and Share

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current Deals

Current Upstream Deals: 277

Completed Deals

Completed Upstream Deals: 6459

Company Profiles

Current Company Profiles: 2886

Corporate Activity

Current Corporate Activity articles: 4038

Companies Looking

Current number of articles: 463

Company Sales

Current Company Sales articles:1622


Current Geostudies articles: 920

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

Rose & Assocs 180
Government of South Australia
Telos NRG
Union Jack Oil 149
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675