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Tuesday, July 15, 2014
African Petroleum’ wholly owned subsidiary, African Petroleum Sierra Leone Ltd., signed a contract to acquire more than 1,000 sq km of 3D seismic data on Block SL-4A-10, offshore Sierra Leone in addition to the existing 3D coverage.
The seismic acquisition over Block SL-4A-10 is expected to commence in Q3.
The company was awarded SL-03 in April 2010 and the adjacent Block SL-4A-10 as part of Sierra Leone’s third offshore licensing round in 2012. Both Sierra Leone licenses are in their first exploration period.
A number of key prospects have already been identified on the licenses and Block SL-03 has net unrisked mean prospective oil resources of 434 Mmstb.
African Petroleum’s CEO, Dr Stuart Lake commented: “With significant milestones already achieved in 2014, today’s announcement continues to demonstrate African Petroleum Corporation’s move into the next phase of delivery and growth. The company has interpreted existing 2D data over SL-4A-10 and has identified a number of promising prospects and leads, some of which are large dip closures with amplitude support at multiple stratigraphic levels. The acquisition of 3D seismic data over the block will de-risk this acreage further and meet our contractual obligations.”
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