OFFSHORE NIGERIA PROSPECT
Covers 1,789 sq. km.
WESTERN NIGER DELTA
Miocene Agbada Formation.
Water Depths: ~6,561 - 8,858 Ft.
Predominantly Structural Trap Type.
3D Seismic Data Available.
SEEKING JV PARTNERS
Total Reserves: >1.1 BBOE
CA Required to View Data Room.
CALL AGENT FOR ADDITIONAL INFO
DV 5028FO
| Offshore Deep Depth > 200m |
Land Base |
| Conventional |
Play Type |
Deal Summary
Oranto Petroleum Ltd has retained Simco Petroleum to find partners for its wholly owned OPL 320, offshore Nigeria.
Highlights:
-- Located in the Western Niger delta;
-- Covers 1,789 sq km;
-- Water depth: 2,000 to 2,700 meters;
-- Targets deep water sands of the Miocene Agbada formation;
-- Most likely prospective and Contingent Resources: 775 MMBOE, with an upside of over 1.1 billion BOE;
-- Echim, an oil discovery (could be an extension to the Bobo field), was drilled in 2007;
-- Echim proven resources: 76 - 186 MMBOE;
-- Commitment to drill one well in the second exploration phase
Company Background
The Nigerian multi-millionaire Prince Arthur Eze owns Oranto Petroleum.
Oranto Petroleum operates as a subsidiary of Atlas Petroleum International Ltd. They have acreage in Nigeria, Equatorial Guinea, Cote D’Ivorie, Sierra Leone, Liberia, Ghana, Mali, Senegal, Benin, Gambia
Oranto Petroleum Ltd. provides oil and gas exploration and production services. The company operates OPL 320, OPL 293, CI-205, CI-206, LB-12, and Sao Tome oil bloc. The company is based in Nigeria.
Agent Background
Simco was established in 1996 in London, England, a global oil industry capital.
Simco is an independent advisory company offering support and management services to the upstream oil and gas industry in relation to their exploration and production activities.
Simco represents client oil and gas companies in asset transactions (acting in either a vendor or purchaser capacity in their disposal or acquisition of licenses and permits), provides support services for the management of oil and gas licenses and assists clients in the formulation and execution of business strategies to establish and grow license portfolios.
Simco also provides independent business evaluations and produces valuation reports including Competent Persons Reports (CPR) for the requirements of the investment community.
Simco's skills-base of in-depth technical knowledge - geology, geophysics and petroleum engineering - is combined with its deal-making and financial.
