The leading independent portfolio management consultancy specialising in Acquisition, Advisory & Divestment Services for the upstream international oil and gas community.

Offshore Guinea-Bissau:
Block 5b

 

Trace Atlantic Oil Ltd (“Trace Atlantic") is offering a select group of companies the opportunity to acquire an interest in Block 5b, offshore Guinea-Bissau, by farming-in to this highly attractive licence. Trace Atlantic currently holds a 58.5% interest in Block 5b.

Key points:

  • Trace Atlantic is offering 50%-70% of its interest in Block 5B, which has a working hydrocarbon system and multiple targets;
  • The highly attractive Formosa prospect, with potential mean recoverable resources of between 200 to 1,000 MMbbls in Albian sands.
  • There is substantial follow-on potential in the Albian sands of the Orango prospect, and the Caravela
  • Prospect with prospective Aptian sands;
    AVO analysis and seismic attributes highlight conformable anomalies at several horizons within the Upper Cretaceous of the principle Formosa and Orango prospects;
  • Basin modelling indicates potential for significant hydrocarbon charge from the adjacent Lower Cretaceous source kitchens;
  • The Formosa Prospect is analogous to the FAN and SNE discoveries to the north, in Senegal;
  • Further prospects and leads identified in a variety of play-types, providing substantial upside and headroom of 2,000 MMbbls recoverable resources (Base case) in the case of success at Formosa;
  • A well to test the Formosa Prospect is currently estimated to cost USD 25 – 30 million;
  • Water depth in the block range from 240 – 4,077 m, with 1,160 m of water at the proposed Formosa well location.

Contact us for more details: Phone: + 44 (0) 20 7493 1977
                                             Email: info@stellarlimited.com

 

 

 
 
 
 
 
 
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