LONDON – A new report on African Petroleum’s (AP) license blocks SL-03 and SL-4A-10 offshore Sierra Leone has upgraded the company’s net prospective oil resources to 2,530 MMbbl.
The new assessment, delivered by ERC Equipoise (ERCE) represents a 76.6% increase compared with ERCE’s previous estimate in March 2015.
It includes findings on six undrilled prospects, two being the recently identified Leo and Vega structures.
Earlier this month AP secured agreement on entry into the second extension periods for the two licenses.
Following further assessment with ERCE, the company expects to provide theSierra Leone Petroleum Directorate with confirmation of its drilling program on the concessions, ahead of the notification deadline of Oct. 31, 2018.