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Thursday, June 6, 2013
Harvest Natural Resources (HNR) has hired Tudor, Pickering, Holt & Co. to manage a competitive process to farm out a significant portion of its interest in its Dussafu block in Gabon. This process is expected to be concluded in Q3. The Dussafu block has seen a significant amount of work accomplished on it by HNR and the company should see a good amount of interest from potential farm-in partners.
Over Q1 HNR completed drilling activities on the Dussafu Tortue Marin-1 exploration well (DTM-1), and appraisal sidetrack (DTM-1ST1). The well reached a vertical depth of 11,260 ft within the Dentale Formation. Log evaluation and pressure data indicate that the company has an oil discovery of approximately 42 ft of pay in a 72 ft column within the Gamba Formation and 123 ft of pay in stacked reservoirs within the Dentale Formation. DTM-1ST1 was drilled to a total depth of 11,385 ft in the Dentale Formation, approximately 1,800 ft from DTM-1 wellbore and found 65 ft of pay in the primary Dentale reservoir.
DTM-1 and DTM-1ST1 were suspended pending future appraisal and development activities. The drilling rig was demobilized and released on February 21.
The company also launched a program of subsurface and conceptual engineering studies. These are aimed at the objective of evaluation of the commerciality of Tortue and the other oil discoveries to determine the optimum development options for the Dussafu block.
In other parts of the block, activities during Q1 2013 included the continuation of the Pre-Stack Depth processing and reprocessing of the new central 3D together with the 2005 Inboard 3D seismic, approximately 1,300 sq km, which commenced in June 2012. The Pre-Stack Depth processing of the merged 3D project is expected to be completed in July.
Harvest is moving forward with the development plans for the resources discovered to date, and is also planning the acquisition of 3D seismic over the outboard portion of the Dussafu block to better define the exploration prospects that have been identified on existing 2D seismic.
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