Pura Vida Energy assesses four prospective resources offshore Gabon

offshore gabon-strocchi flickrThe resource estimate was based on four prospects reviewed so far on the block, located outside of the Loba M-1 discovery. (Image source: Strocchi/Flickr)Australia-listed oil explorer Pura Vida Energy has announced that it has calculated the four prospective resources at its 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.

The company’s initial evaluation of the block places its share of the net mean recoverable prospective resources at 815mn barrels of oil.

The resource estimate was based on four prospects reviewed so far on the block, located outside of the Loba M-1 discovery.

The most prospective of the four reviewed prospects is the pre-salt MVIM West, which the company estimates could hold gross mean recoverable prospective resources of 639mn barrels of oil.

David Ormerod, technical director at Pura Vida Energy, said, “Today’s resource estimate recognises the significant exploration potential of other plays present in the Nkembe Block, particularly the pre-salt which is the main play currently being targeted by the industry in Gabon.”

The assessment comes ahead of the company’s planned farm-out to fund activities on the block which it sais is due to commence shortly with EZ Data Room.

Pura Vida holds an 80 per cent interest in the block, with Gabon holding the remaining 20 per cent stake.

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