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Tuesday, January 14, 2014
Sterling Energy completed its 1,314-km 2D seismic acquisition program on the Ampasindava Block in Madagascar. The company believes the data will provide improved sub-surface imaging of the large Sifaka prospect and potentially mature additional prospects on the block to drill-ready status. Processing of the new data has commenced. Sterling Energy holds a 30% interest in the Ampasindava PSC which is operated by ExxonMobil Exploration and Production (Northern Madagascar) Ltd.
Sterling also reported that the proposal to extend the 2D acquisition program into the Ambilobe Block would have provided only limited new data and therefore it, along with its JV partner Pura Vida, have commenced planning a 1,250-sq km 3D seismic program to identify a drilling location. The 3D-survey will be acquired in H2 2014. Under the terms of Sterling’s farm-out agreement with Pura Vida, all costs associated with the acquisition of the 3D seismic program, up to a maximum cost of $15 million, are carried by Pura Vida. Sterling and Pura Vida each hold a 50% interest in the Ambilobe Block with Sterling serving as operator.
Sterling Energy Plc.’s executive chairman, Alastair Beardsall, said: “The new 2D seismic data acquired on Ampasindava will facilitate the planning for an exploration well which is expected to spud in 2015 /16. The more detailed 3D program being planned for Ambilobe will focus on maturing some of the identified leads into potentially drill-ready prospects.”
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