Bayfield Energy Holdings plc, an independent oil and gas exploration and production group with production and exploration interests in Trinidad & Tobago, has announced the formal execution of an exploration right over the Pletmos Inshore Block (“Pletmos”) offshore South Africa with an effective date of 17 April 2012.
Pletmos is situated off the southern coast of South Africa approximately 200 km east of the Mossel Bay gas to liquids plant and covers an area of approximately 10,800 km². The block lies within the greater Outeniqua basin where over 4 TCF of gas has been discovered to date. On Pletmos, earlier exploration activity resulted in an untested gas discovery in well Ga-VI and, to the south, several gas discoveries were tested in the same geological play. The last phase of this exploration activity ended in 1990. Subsequent studies on Pletmos have identified younger geological targets which are found productive to the west. Six prospects have been mapped and require detailed seismic programmes to evaluate the potential.
Bayfield’s focus during the initial three-year term will be on the reprocessing of existing 2D seismic data over the block and a programme for the acquisition of new 2D data and 3D data to help define drilling locations. An environmental study of the block was completed in January 2011. Bayfield holds a 100% participating interest in Pletmos.
Hywel John, Chief Executive of Bayfield , commented: “We are delighted to take this first step in realising our ambitions for Pletmos which were laid out in our 2009 application. The growing interest from majors and larger independents offshore southern Africa is an endorsement that our early confidence in the region is well placed.”
[mappress] Source: Bayfield Energy, April 23, 2012