Simba Energy IDs Significant Seeps in Guinea

Simba Energy Inc. report it has identified three additional and significant seeps during its initial phase of 2013 exploration work on Blocks 1 & 2 in the Republic of Guinea's Bove Basin.

"Further to our site visit last summer that identified and confirmed a number of known seep areas within Block 2, these three additional seep areas (two in Block 1), from Paleozoic rocks, are impressive and clearly the best seeps seen to date. They certainly increase the prospectivity of both the blocks with the presence of higher C hydrocarbons. A number of samples have been sent to the lab for analysis," remarked Director and CTO for Simba James W. Dick.

In view of the results to date, the Company now plans to focus its initial exploration work in the Republic of Guinea on Block 1 and the northern part of block 2.

The Company is planning a geochemical survey to collect 2,000 samples covering 1,000 line kilometers mostly within Block 1 to focus upcoming phases of exploration. Crews will be mobilized within the next month with completion anticipated shortly thereafter.

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Rodriguez Well Makes 'Significant' Gas Condensate Discovery

Faroe Petroleum and the Norwegian Petroleum Directorate reported Thursday that it a significant gas condensate discovery has been confirmed at the secondary target of the Rodriguez exploration well in the Norwegian Sea. Faroe reported that the operator's preliminary volumetric estimates of the size of the discovery are between 19 and 126 million barrels of recoverable oil equivalent.

The 6407/1-6S exploration well, which is on the PL475 license operated by Wintershall Norge, was drilled around 2.5 miles northeast of the Tyrihans field and about five miles southeast of the 6406/3-8 oil/gas discovery, the NPD said.

Faroe said that the 6407/1-6S well is the first exploration well to be drilled on the Rodriguez license and that further appraisal will be required to establish the lateral extent and size of the discovery.

"We are very pleased to announce this gas condensate discovery on the secondary target of this Norwegian Sea exploration well. This significant discovery gives the partnership a good indication of further upside potential on the rest of the licence block with at least two further matured and partially de-risked prospects and we look forward to its further appraisal," Faroe Petroleum Chief Executive Graham Stewart commented in a company statement.

"We have an active 2013 exploration drilling programme which includes several high impact exploration wells including Darwin (Barents Sea), Novus (Norwegian Sea) and two Butch wells (Norwegian North Sea)."

The well was drilled by the Transocean Arctic (mid-water semisub) rig, which the NPD said will now proceed to production license 418 in the northern part of the North Sea to drill appraisal well 35/9-8.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Survey Confirms Significant Oil Potential off Northern Ireland

Irish explorer Providence Resources reported Thursday that an airborne survey carried out over its P1885 and PL 5/10 licenses in the Rathlin Basin, offshore Northern Ireland, has confirmed significant oil potential in the area.

Providence said it acquired data from a 'Full Tensor Gradiometry' (FTG) and magnetic airborne survey, carried out by Bell Geospace, and that initial processing of these data revealed the presence of five FTG anomalies that were deemed prospective for hydrocarbon exploration. The company added that the primary FTG anomaly, the 'Polaris' prospect, which lies in the Rathlin Sound just off the coast of Northern Ireland, is coincident with a significant structural feature imaged on vintage 2D seismic data. This prospect also lies structurally on-trend with the onshore 2008 Ballinlea-1 well, which successfully recovered good quality oil to the surface during testing.

Providence that further processing of its newly-acquired gravity data indicates that the Polaris feature is a large areally-extensive structure covering around 12 square miles. An initial P50 volumetric estimate, based on gravity and offset well data, indicates an in-place prospective resource potential of approximately 530 million barrels of oil for the prospect.

Providence Technical Director John O'Sullivan commented in a statement Thursday:

"We continue to be very encouraged by the results of the recent FTG programme, which has exceeded our pre-survey expectations. The Rathlin Basin has always been considered prospective due to the presence of a rich oil prone source rock, however poor seismic imaging has historically rendered it difficult to determine the basin's true hydrocarbon entrapment potential. We believe that our application of new technologies such as Full Tensor Gradiometry should allow for a complete re-assessment of this frontier basin. We have now commenced planning for a future drilling programme in 2014, which includes necessary site investigations, local permitting requirements together with regulatory and local stakeholder liaison."

Providence had plenty of success around Ireland last year, where it proved up significant resources at its Barryroe discovery off the south coast and saw progress with several other exploration projects. O'Sullivan confirmed Thursday that drilling operations planned for 2013 include the upcoming deepwater exploration well on the Dunquin prospect, an appraisal well on the Spanish Point gas condensate discovery and an exploration well in the Kish Bank Basin.

"In 2014, we plan to drill an exploration well on the Polaris Prospect and an appraisal well on the Dragon gas field," he added.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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