Project Profile
Location: Onshore in the Republic of Guinea\'s Bove basin
Area: 12,000 sq.km
Depth: 2000 metres
The blocks 1 & 2, onshore Guinea total 12,000 sq.km onshore in the Republic of Guinea\'s Bove basin, which has extensive presence of surface oil seeps and three known reservoir systems with fair to good reservoir parameters in both clastic sediments and carbonates. The two blocks possess significant hydrocarbon exploration potential that supports taking an aggressive near-term exploration approach. Laboratory analysis carried out in 1989 on samples from two wells Beicip (France) indicated a level of maturity as \"mature to over mature\" and a source that is likely oil prone. The basin has three known reservoir systems with fair to good reservoir parameters in both clastic sediments and carbonates. A gravity and magnetometer survey carried out over the entire basin in 1972 by Texas Geophysical Company indicates sediments were present up to a depth of 4,000 metres and identified numerous anomalies, the magnitude of which remain of great interest.
However, most of the basin\'s wells were drilled prior to the 1960\'s and were too shallow to fully evaluate the section.
Simba Energy Inc. received final approval for 60% of the Production Sharing Contract (PSC) in blocks 1 & 2, onshore Guinea from the Republic of Guinea\'s Minister of Mines and Geology (Le Ministere des Mines et de la Geologie). Simba is set to provide 100% funding of all program costs in the first year, and 60% of all program costs thereafter.
Operators:
Simba Energy Inc: Operator with 100% interest