Petroleum Africa
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Wednesday, September 14, 2016
Pura Vida Energy is looking for a partner for its Nkembe Block offshore Gabon. The company put together a presentation outlining its strategy to create near term value through a sequence of catalysts including farmout, drilling, and development.
The presentation, “Pathway to near term oil production from the Nkembe block” highlights the work done, including evaluations on the block. Some recent work carried out by Pura Vida includes a fully costed Concept and Feasibility Study (CFS) for the fast-track development on the Loba oil field.
Economic modelling for the Loba Oil Field and Loba Complex demonstrates the commercial viability of the project at current oil prices and the potential for significant value creation. The Nkembe also holds the drill-ready Lepidote Deep prospect, which is a much larger prospect than the Loba with significant upside potential.
The company’s farm out discussions with industry partners are now focused on the commercialization of the Loba Complex in the near term. Funding the forward work program for the Nkembe block is dependent on securing a farm-in partner.
Pura Vida’s strategy for the commercialization of Loba has the potential to take the company from the status of explorer to that of producer in the near term.
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