CAP Revisits Guinea-Bissau Data

Cap Energy, a company focused on the exploration, production, and development of oil and gas primarily in sub-Saharan Africa, has announced the results of an independent re-assessment of 2D seismic data by Gas Mediterraneo & Petrolio relating to the Company’s two Guinea-Bissau licences.

Block 5B (Cap Energy interest 27%) covers 4,800 square kilometres and is located offshore Guinea-Bissau with water depths ranging from 250 metres to 4,500 metres. Block 5B has been covered with approximately 1,532 kilometres of 2D seismic in 2011 and 1,500 kilometres in 2013.

Vintage 2D seismic of approximately 1,900 kilometres shot during 1981 to 2000 was also acquired by Cap Energy. The hydrocarbon prospectivity was assessed on the basis of the various seismic surveys and with the availability of all the well information and petrophysical information to enhance the multiplay exploration interpretation.

Volumetrics for 21 leads with surface closures bigger than 10 square kilometres have been calculated. The identified structures are located at water depths ranging from 1,000 metres to 3,500 metres and variable target depths from sea bottom 800 metres to 2,650 metres.

The aggregate Prospective Resources of the block is as follows:

– P50 STOOIP value 22,083 MMbbls, P10 STOOIP value 34,381 MMbbls, P90 STOOIP value 12,439 MMbbls;

– Recoverable values are respectively P50: 7,729 MMbbls, P10: 4,354 MMbbls, P90: 12,003 MMbbls.

The re-interpretation of Block 5B indicates that the block has a strong analogy with the Sangomar Deep licence in Senegal and the recent discoveries SNE-1 and FAN-1 announced by Cairn Energy Plc. Two of the interpreted prospects in Block 5B are similar to the two discoveries in Senegal.

Block 1 (Cap Energy interest 24%) covers 4,800 square kilometres offshore Guinea-Bissau with water depths up to 100 metres. Block 1 is located in an emerging shelf margin where appraisal wells have recently been drilled and development plans are starting in adjacent blocks.

Block 1 has been covered with 1,530 kilometres of 2D seismic in 2013. Vintage 2D seismic of about 1,300 kilometres acquired through 1981 to 1988 was also available. The hydrocarbon prospectivity was assessed on the basis of the various seismic surveys and with the availability of all the well information and petrophysical information to enhance the multiplay exploration interpretation.

The aggregate Prospective Resources of the block is as follows:

– P50 STOOIP value 1,100 MMbbls, P10 STOOIP value 2,060 MMbbls, P90 STOOIP value 308 MMbbls;

– Recoverable values are respectively P50: 275 MMbbls, P10: 515 MMbbls, P90: 77 MMbbls.

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