Updated Resource Estimates Announced for Algoa-Gamtoos License
Drilling Activity Details
Drilling Activity Summary
Description
Tower Resources announced updated resource estimates following interpretation of the reprocessing of additional 2D seismic data covering the Algoa-Gamtoos license, offshore South Africa. The London-based company’s reprocessing work encompassed 4,500 km of 2D seismic data already collected and also further data acquired from the Petroleum Authority of South Africa, including tie lines from Brulpadda to the Algoa-Gamtoos area. The results indicate a deeper level slope (as seen at Brulpadda) and three separate reservoir targets — a shallow section estimated at an unrisked Pmean recoverable resource of 470 MMboe, a previously unidentified deeper slope section with an unrisked Pmean recoverable resource of 231 MMboe and a previously unidentified basin floor fan section has an unrisked Pmean recoverable resources of 710 MMboe. In addition, a submarine fan complex in the shallow-water Gamtoos area of the license was identified during the survey, which is estimated to contain an unrisked Pmean recoverable resource of 135 MMboe. The Algoa-Gamtoos license is located adjacent to Total's Blocks 11B/12B, where Total has made discoveries in excess of 1 Bboe.
Tower Resources announced updated resource estimates following interpretation of the reprocessing of additional 2D seismic data covering the Algoa-Gamtoos license, offshore South Africa. The London-based company’s reprocessing work encompassed 4,500 km of 2D seismic data already collected and also further data acquired from the Petroleum Authority of South Africa, including tie lines from Brulpadda to the Algoa-Gamtoos area. The results indicate a deeper level slope (as seen at Brulpadda) and three separate reservoir targets — a shallow section estimated at an unrisked Pmean recoverable resource of 470 MMboe, a previously unidentified deeper slope section with an unrisked Pmean recoverable resource of 231 MMboe and a previously unidentified basin floor fan section has an unrisked Pmean recoverable resources of 710 MMboe. In addition, a submarine fan complex in the shallow-water Gamtoos area of the license was identified during the survey, which is estimated to contain an unrisked Pmean recoverable resource of 135 MMboe. The Algoa-Gamtoos license is located adjacent to Total's Blocks 11B/12B, where Total has made discoveries in excess of 1 Bboe.