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Tuesday, January 23, 2018
Stamper Oil & Gas issued an update on its activities in Sudan. In October, Stamper entered into a MoU with State Oil Corp. to acquire 100% of the issued and outstanding shares of State. State is a closely held private company. State had previously signed a MoU with Sudapet Ltd., the national oil company of Sudan, pursuant to which State will farm-in to acquire a 50% interest and rights in a certain Sudapet exploration and production project in Sudan.
The Block 25 project in Sudan has had previous work undertaken, including completion of 6,700 km of 2D seismic and 432 sq km of 3D seismic which subsequently indicated a number of new potential locations for drilling. The project area for exploration and production comprises 26,000 sq km where the previous operator successfully drilled three discovery wells and seven development wells.
A third-party analysis report indicates, “based on the TOC/ Rock Eval data at disposal, excellent oil prone lacustrine source rocks (Type I) were penetrated in the two discovery wells located in the Central Sub-basin. In the Eastern Sub-basin, a source rock was encountered near TD in the lower oil prone formation, Campanian in age.”
In December, the company announced it had engaged Chapman Petroleum Engineering Ltd. to prepare a technical report in accordance with standards and protocols which will be provided to Stamper as part of the contract conditions to the pending transaction in Sudan. Chapman will use the previous data and work completed by previous operators.
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