Petroleum Africa
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Monday, February 11, 2019
The discovery made by a Total-led venture in South Africa with the Brulpadda well has led to another partnership upping its potential resources on a near by block. Tower Resources’ Algoa-Gamtos license is adjacent to Total’s Block 11B/12B.
The Algoa-Gamtos is operated by New Age Energy Algoa with a 50% stake, Tower holds the other 50% interest. The license contains the southern deepwater basin margin of the Outeniqua Basin that was targeted by Total’s Brulpadda well and is approximately 150 kms along strike to the east from the Brulpadda discovery.
Importantly, the Brulpadda well has successfully tested the Lower Cretaceous turbidite fan play of the Outeniqua basin slope, which is interpreted to extend along strike into the southern part of the Algoa-Gamtoos block, in which the operator, New Age, has identified on 2D seismic as a substantial prospect.
New Age assessed the analogue prospect potential on the Algoa-Gamtoos block at 364 million boe on an unrisked basis from 2D reprocessed data, which is an increase on its previous 2018 estimate. Envoi, on behalf of New Age and Tower have been contracted to facilitate a farm-out of equity in the license, and a data room is currently open.
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