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Wednesday, March 25, 2015
CAP Energy released the initial results from an independent interpretation by Gas Mediterraneo&Petrolio of 3,750 km of 2D seismic data related to the Djiffere license offshore Senegal. CAP holds a 44.1% stake in the Djiffere license.
The Djiffere PSC covers an exploration block area of 4,459 sq km offshore central Senegal in a highly prospective part of the Senegal Gambia Basin. The block is in water depths of between 10 meters to 250 meters, but predominantly less than 100 meters, while proven mature oil source rock exists immediately to the west, downdip of the block.
Modern 2D seismic was acquired during 2014 by the operator, and well ties have been made to the nearest oil discoveries. The interpretation of 2D data acquired in 2014 is almost completed and several structural leads and prospects have already been mapped on the block.
The largest prospect to date is the Antelope structure, a three way rollover against a fault, where the main level is estimated to contain potential resources of 168 million barrels of oil (P50 recoverable) in Campanian sands. The full assessment of the prospects and leads will be announced soon, once the final independent report is available. Further potential is expected in stratigraphic leads, subject to further study and the acquisition of 3D seismic. 3D data would provide the Joint Venture with a better understanding of the main target prospects, improved structural imaging and access to a more robust work flow which would include amplitude versus offset (AVO) and other attribute analysis. The operator is also planning to continue to use RVD (Rex Virtual Drilling) technology to help reduce risk on the target prospects.
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