Pura Vida Energy discovers oil offshore Gabon

offshore gabon-hakonthingstand flickrThe core analysis validates the estimated mean recoverable contingent resources of 20mn barrels of oil. (Image source: Hakonthingstad/Flickr)Australia-listed oil explorer Pura Vida Energy has announced that a significant oil column has been found at the Loba-1 well in the Nkembe Block, offshore Gabon

The Nkembe Block covers an area of 1,210 sq km in the oil prone Gabon Basin, about 20km off the coast in water depths ranging between 50 and 500 metres.

Inspection of the drilling cores from the oil well has confirmed the presence of good quality sandstone reservoirs with abundant oil staining, Pura Vida Energy said.

The core analysis validates the earlier prediction of estimated mean recoverable contingent resources of 20mn barrels of oil (mmbo), sources added.

David Ormerod, technical director of Pura Vida Energy, said, “We were attracted to the Nkembe Block because of the range of play types. Earlier in the year we announced a 20mmbo contingent resource at the Loba M 1 discovery in the post-salt.

“Today’s confirmation of the contingent resource estimate recognises the significant appraisal potential of the Loba oilfield in the Nkembe Block. This is a pleasing outcome ahead of our planned farmout to fund activities on the block.”

 

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