Project Profile
Value: Undisclosed
Location: North of the Lokichar Basin, northwest Kenya
Reserves: Unknown
Area: 14,000 square kilometres
Start-up Year: -
Block 11B covers about 14,000 square kilometres encompassing the Loeli, Lotikipi, Gatome and South Gatome basins. The basins are to the north of the Lokichar Basin where a significant oil discovery has been made in recent months with the Ngamia-1 well. BowLeven has farmed into Block 11B by taking 50% from local player Adamantine Energy. The extensive and highly prospective exploration acreage position gives BowLeven exposure to a new hydrocarbons province, following on from its position in Cameroon. Analysis of the existing gravity and magnetics and seismic datasets suggest the basins in Block 11B are of similar form to Lokichar and analogous geological plays and petroleum system elements are expected. BowLeven is to fund an initial work programme of geophysical and 2D seismic, expected to cost around US$10 million.
The PSC is based on a 3 phase work programme based on 2+2+2 years, start date was 30th August 2012. Block 11B also benefits from the fact there is a proposed oil pipeline which will flow from South Sudan through 11B out to the Kenyan coast at Lamu. Clearly being on the pipeline route improves the economics considerably. Adamantine are also pursuing this trend to the south of Tullow’s Lokichar Basin discovery to the SW into neighbouring Tanzania through its current Wembere Basin block Application.
Operators:
Adamantine Energy: Operator with 50% interest
BowLeven: 50% interest