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Tuesday, June 24, 2014
Pura Vida Energy saw an upgrade to its prospective resource assessment of its Nkembe PSC offshore Gabon. The company revealed that further technical work undertaken has revealed a significant new play in the pre-salt within the Syn-rift interval where carbonate Coquinas reservoirs are anticipated to be present.
The inclusion of newly identified prospects increases the total gross mean unrisked prospective resources on the block to 1,680 million barrels of oil, 1,344 million barrels net to the company. The carbonate play is analogous to similar plays that have resulted in the discovery of several billion barrels of oil offshore Angola and Brazil. Pura Vida’s technical work has also identified several areas which contain multiple stacked prospects that have the potential to be attractive drill candidates that could be tested with a single vertical well.
The company’s MD Damon Neaves commenting on the news said: “Our recent technical work on the Nkembe block has yielded an exciting new play resulting in a significant increase in the resource potential. As our understanding of the geology of the Nkembe block has developed we have come to recognize the block has the potential to unlock value through a number of alternative pathways. At this time, industry interest in Gabon is running high with significant drilling activity ongoing and a very competitive deep-water bid round recently completed. We are therefore focused on securing funding from the industry to undertake the exploration activities required to unlock the potential value of the block.”
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