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Friday, April 24, 2015
In Kenya ERHC Energy and its partner Cepsa (operator) have identified the Tarach-1 prospect as the site for their first exploration well on Block 11A. The decision to drill the Tarach prospect first was based on the interpretation of 1,086.6 km of 2D seismic data acquired by Cepsa and ERHC on the Block. The exploration team considers the Tarach prospect as the most robust mapped prospect.
The interpretation of the seismic data identified 13 drillable prospects and leads in the Tarach basin. Mean prospective resources of all prospects and leads totals 645 million barrels. The basin stratigraphy is believed to be Tertiary/Cretaceous age, which would be similar to the Lokichar basin 200 km to the southeast of Block 11A, where significant discoveries have been made. The Lokichar basin has over 600 million barrels of 2C contingent resources.
The well is expected to spud in March 2016, if conditions precedent are met; the partners have commenced preparations for drilling with tendering processes underway on major items.
Contingent upon the results of Tarach-1, Cepsa and ERHC might decide to drill a second exploratory well, the Egole-1, to follow shortly thereafter. The Egole-1 prospect is a four-way rollover closure onto a Northwest – Southeast trending fault plain with mean prospective resources of 101 million barrels of oil.
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