The Company’s licence interests in Niger are located in the highly prospective Agadem Rift Basin in South East Niger covering an area of approximately 13,655km2.
1. Source: Niger Competent Person’s Report, CGG Services (UK) Limited ‘(CGG’), April 2020.
CGG recognise a total of eleven exploration Prospects and Leads, for which Prospective Resource estimations have been made. Five of these are located on the R3/R4 PSC, with an aggregate gross Best Estimate resource potential of c. 90 MMstb. Three of these are deep exploration targets in the Cretaceous Yogou formation below the shallower discoveries at Bushiya, Amdigh and Eridal. Two further undrilled Leads are identified on the western edge of the R3/R4 PSC, with prospectivity in the Sokor as well as the deeper Yogou formation.
A further six undrilled exploration prospects and leads have been assessed by CGG in the R1/R2/R4 PSC*, within the R1/R2 area to the north west of the R3/R4 PSC. These all have exploration potential throughout the section and have a larger aggregate gross resource potential of 270 MMstb (Best Estimate). Two of these features, Kunkuru and Damissa, are covered by 3D seismic and are thought to have a high chance of exploration success (>75%).
Further material resource additions are expected in our next drilling campaign targeting some of the 146 leads and prospects which have been identified on the Savannah PSC areas. Most leads and prospects are composed of stacked targets in the Upper Sokor, Sokor Alternances and Yogou formations which will be accessible from a single well trajectory.
CGG have also undertaken a geological Yet-to-Find analysis, covering all exploration plays across the Savannah acreage, which suggests that on a Best Estimate, risked basis around 2.7 Bnbbls of oil resources could be anticipated.
* Ratification of the new R1/R2/R4 PSC is subject to Council of Minister approval, and payment of the associated fee.