$6,000,000

Guinea Bissau Blocks 7B and 7C

Supernova Energy BV is seeking a partner to explore two adjacent blocks offshore Guinea Bissau. Block 7B has recent 3D seismic survey coverage over the shelfal play and an investor is sought to fund an exploration well with an estimaed cost of $30 million. Block 7C lies outboard of 7B with shelf-slope plays and has 2D coverage, the block now and requires a 3D seismic survey, with an estimated cost of $6m, to connect the the plays in Block 7B.

10 leads and prospects have been identifyed from 2D and 3D seismic data as well as a recent Sea Floor Multibean and Sea Seep survey (MBSS).

The acreage has at least three highly prospective play fairways. In the shallow part of Block 7B the Cretaceous clastics overly Upper Cretaceous source rocks (Turonian), similar to the proven play further north at Sinapa. Below this play lies the Lower Cretaceous section, a substantial section with multiple opportunities for reservoir and source pairings. Structural leads are found over most of the blocks and continue off the shelf into the deepwater part of the block. Here play fairways are expected from the Jurassic (carbonate source and reservoir) through to the Lower Cretaceous deep marine clastics of the distal Casamance system.

Supernova Energy holds 90% WI on blocks 7B and 7C offshore Guinea-Bissau, and 10% WI is held by Petroguin.

Details

Asset Name : Block 7B
Ref : AF-GNB-B7B
Continent : Africa
Country : Guinea-Bissau
Location : Offshore
Project Phase : Exploration
Latitude : 9.5371
Longitude : -17.2407
License Expiry : 2022
Operator : Supernova Energy
Other partners : Petroguin
Farmout company : Supernova Energy
Mandated Agent : PVE Consulting ltd
Work Programmes : Seismic, Drilling
Back Costs : $1m - $10m
Equity Offered : 40 - 60%
Deal Status : Open
FarmoutAngel Valuation : $5,000,000 - $10,000,000
FarmoutAngel confidence : Medium
Consideration Sought : $6,000,000

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