Petroleum Africa
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Tuesday, December 20, 2016
Sigmund Oilfields Ltd. saw the completion of a Competent Persons Report for its operated block in Nigeria, OPL 2012. According to the company, the report confirms the presence of a significant contingent oil, gas, and condensate resource within an extension of the Agbara field across the boundary of OPL 2012.
The estimated resource has the potential to support a stand-alone or shared facility development and provides an opportunity for early cash flow.
“We are delighted with these results”, commented Sigmund’s Chairman Chief Chris Ubah. “The report confirms our long-held belief that a substantial prize exists within the boundaries of OPL-2012. The opportunity to test an extension of a material producing field such as Agbara is quite unique in Nigeria. We are now embarking on a campaign to secure the investment to drill an appraisal well.”
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