Total hit it big on trend with our acerage2 Feb 2021 17:54
Block 11B/12B is located adjacent to the Algoa-Gamtoos license. The Algoa-Gamtoos license also contains the southern deep-water basin margin of the Outeniqua Basin that was targeted by Total's Brulpadda and Luiperd-1X wells and is approximately 150 kms along strike to the East.
The Luiperd-1X well encountered 73 meters of good quality net pay in 85 meters of gross sands in the main target interval and, according to Africa Energy which owns 49% of Main Street 1549 Proprietary Ltd, the well reached a maximum constrained flow-rate through a 58/64" choke of 33 million cubic feet per day of natural gas ('MMcfpd') and 4,320 barrels of condensate per day ('bcpd'), an aggregate of approximately 9,820 barrels of oil equivalent per day ('boepd'). The choke configuration could not be increased due to surface equipment limitations. The absolute open flow ('AOF') potential of the well is expected to be significantly higher than the restricted test rates. Current indications are that the Luiperd discovery is larger than the 1 billion boe Brulpadda discovery announced in 2019.
As previously noted, the Brulpadda and Luiperd-1X wells have successfully tested the Lower Cretaceous turbidite fan play of the Outeniqua basin slope, which is interpreted to extend along strike into the southern part of the Algoa-Gamtoos block, in which the Operator, New Age, has identified on 2D seismic a substantial prospect.
New Age has reprocessed the existing 2D seismic data over the license during 2020, which has yielded a considerable improvement in resolution, and expects to have updated analysis and volumetrics available in January 2021, which will also be made available to potential farm-in partners. The Company will update the market further when it receives this analysis.
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