Guinea

Simba Essel has signed an agreement to acquire a 60% interest in the PSC for Blocks 1 & 2, comprising 12,000km² onshore in the Republic of Guinea’s Bove basin.

Simba Essel has assessed the site and conducted a detailed review of all available technical data. The company has concluded that Blocks 1 and 2 have significant potential for oil and gas in a basin that remains relatively underexplored.

Simba Essel has developed a work program including planning for a seismic program which will proceed immediately after the company has received final approval from the Minister of Mines.

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Heavy Oil at Surface

Migration and communication are demonstrated by the presence of seeps, large accumulations of bio-degraded heavy oil at surface, and light oil staining in earlier core and samples.

Laboratory Analysis

A detailed laboratory analysis of samples from two wells carried out in 1989 by Beicip indicated the level of maturity as ‘mature’ to ‘over mature’ and a source that is likely oil prone.

Source Rock

Silurian shale rock is present; the major source rock in all North African basins.

Reservoir Systems

The basin has three known reservoir systems with fair to good reservoir parameters in both clastic sediments and carbonates.

Magnetometer Survey

A gravity and magnetometer survey carried out over the entire basin in 1972 by Texas Geophysical Company indicated that sediments were present (to a depth of 4,000m) and also identified numerous anomalies, the magnitude of which remain of great interest.

Wells

Most of the basin’s existing wells were drilled pre-1960s and were too shallow to fully evaluate the section.

Tectonic Style

The tectonic style of the Bove basin is such that structures are formed that produce traps capable of pooling large reserves.

In an area 100km to 200km offshore from Blocks 1 & 2, Hyperdynamics Corporation recently carried out extensive 2D and 3D seismic surveys and now plans to drill the first of a two well program later this year.