{"id":13416,"date":"2023-03-09T09:26:54","date_gmt":"2023-03-09T09:26:54","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=13416"},"modified":"2023-03-09T09:26:54","modified_gmt":"2023-03-09T09:26:54","slug":"south-africa-africa-oil-announces-new-cpr-for-prospective-resources-in-block-3b-4b-orange-basin","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-africa-oil-announces-new-cpr-for-prospective-resources-in-block-3b-4b-orange-basin\/","title":{"rendered":"SOUTH AFRICA: Africa Oil Announces New CPR for Prospective Resources in Block 3B\/4B, Orange Basin"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Highlights<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>RISC has reviewed the prospective resources and probability of geological success of an inventory of exploration prospects within Block\u00a03B\/4B\u00a0and have reported total unrisked gross P50 prospective resources of approximately 4 billion barrels of oil equivalent (boe). Probability of success ranges from 11% to 39% over the 24 prospects identified.<\/li>\n\n\n\n<li>The prospect inventory evaluated by RISC has been identified following completion of the reprocessing of 2,200 km<sup>2<\/sup>&nbsp;of 3D seismic data and knowledge of the regional geology of play-opening discoveries in the Orange Basin, offshore&nbsp;Namibia, including TotalEnergies&#8217; Venus discovery and Shell&#8217;s Graff, La Rona, and Jonker discoveries.<\/li>\n\n\n\n<li>Africa Oil is the operator of Block&nbsp;3B\/4B&nbsp;with a 20% participating interest,<\/li>\n\n\n\n<li>The Company and its partners are progressing plans to conduct a two-well campaign on Block&nbsp;3B\/4B&nbsp;and are in discussions with various potential partners to farm out up to a 55% gross working interest in the Block.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Africa Oil Chief Executive Officer,\u00a0Keith Hill, commented on the statement of reserves<\/strong>: &#8220;Africa Oil is at the forefront of the exciting appraisal and exploration activities in the Orange Basin, probably the most sought-after new petroleum region globally. We are the only publicly-listed Independent E&amp;P company with exposure to the transformational upside of the Venus discovery and its possible westerly extension. We are also excited about the large prospect inventory in Block\u00a03B\/4B; the prospects are all based on 3D seismic and are of similar age and type to the discoveries announced by Shell and TotalEnergies in the Orange Basin. We are keen to begin drilling our first prospect, possibly as soon as 2024, and we will start the environmental impact surveys this month.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">RISC has reviewed the prospective resources and probability of geological success of 24 exploration prospects within Block\u00a03B\/4B\u00a0in accordance with the PRMS. The report provides an evaluation of prospective resources from a prospect inventory identified using 3D seismic data and follows completion of the reprocessing of 2,200 km<sup>2<\/sup>\u00a0of 3D seismic data and play-opening discoveries in\u00a0Namibia\u00a0including TotalEnergies&#8217; Venus discovery and Shell&#8217;s Graff, La Rona, and Jonker light oil discoveries. These discoveries prove the existence of a working petroleum system for light oil, gas condensate and gas in the geological play fairway. The proven reservoirs in Graff and Venus discoveries are similar to Cretaceous reservoirs and geological plays that would be targeted in the AOC\u00a03B\/4B\u00a0Exploration Right. Prospects in Block\u00a03B\/4B\u00a0are identified using 3D seismic data to assess the presence of seismic attributes including amplitude-variation-with-offset (AVO) or direct hydrocarbon indicators (DHI&#8217;s).\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Africa_Oil_Corp__AFRICA_OIL_ANNOUNCES_NEW_COMPETENT_PERSON_S_REP.jpg?resize=677%2C551&#038;ssl=1\" alt=\"\" class=\"wp-image-13417\" width=\"677\" height=\"551\" srcset=\"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Africa_Oil_Corp__AFRICA_OIL_ANNOUNCES_NEW_COMPETENT_PERSON_S_REP.jpg?w=150&amp;ssl=1 150w, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Africa_Oil_Corp__AFRICA_OIL_ANNOUNCES_NEW_COMPETENT_PERSON_S_REP.jpg?resize=100%2C81&amp;ssl=1 100w\" sizes=\"auto, (max-width: 677px) 100vw, 677px\" \/><figcaption class=\"wp-element-caption\">Table 1: Gross Unrisked UPIIP (Undiscovered Petroleum Initially in Place) and Unrisked Prospective Resources for Prospects\u00a0in Block 3B\/4B and the Probability of Geologic Success (Pg) for Prospects (CNW Group\/Africa Oil Corp.)<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Africa_Oil_Corp__AFRICA_OIL_ANNOUNCES_NEW_COMPETENT_PERSON_S_REP-1.jpg?resize=813%2C206&#038;ssl=1\" alt=\"\" class=\"wp-image-13418\" width=\"813\" height=\"206\" srcset=\"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Africa_Oil_Corp__AFRICA_OIL_ANNOUNCES_NEW_COMPETENT_PERSON_S_REP-1.jpg?w=150&amp;ssl=1 150w, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Africa_Oil_Corp__AFRICA_OIL_ANNOUNCES_NEW_COMPETENT_PERSON_S_REP-1.jpg?resize=100%2C25&amp;ssl=1 100w\" sizes=\"auto, (max-width: 813px) 100vw, 813px\" \/><figcaption class=\"wp-element-caption\">Table 3. Summary of Gross and Net (20%) Unrisked Prospective Resources for Associated GAS (CNW Group\/Africa Oil Corp.)<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Highlights Africa Oil Chief Executive Officer,\u00a0Keith Hill, commented on the statement of reserves: &#8220;Africa Oil is at the forefront of the exciting appraisal and exploration activities in the Orange Basin, &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-africa-oil-announces-new-cpr-for-prospective-resources-in-block-3b-4b-orange-basin\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[70,9998,9513,11097],"class_list":["post-13416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-africa-oil","tag-block-3b-4b","tag-orange-basin","tag-venus-discovery","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3uo","jetpack-related-posts":[{"id":13788,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-africa-oil-increases-interest-in-block-3b-4b\/","url_meta":{"origin":13416,"position":0},"title":"SOUTH AFRICA: Africa Oil Increases Interest in Block 3B\/4B","author":"","date":"July 11, 2023","format":false,"excerpt":"Africa Oil has announced that it has entered an agreement to increase its operated working interest in Block\u00a03B\/4B, located in the Orange Basin offshore\u00a0South Africa\u00a0and on trend with the Venus, Graff, La Rona and Jonker oil discoveries, for an additional 6.25% interest.\u00a0 An independent review of the prospective resources and\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13692,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-announces-q1-2023-results\/","url_meta":{"origin":13416,"position":1},"title":"Africa Oil announces Q1 2023 results","author":"","date":"May 15, 2023","format":false,"excerpt":"Highlights The high impact Venus appraisal campaign commenced with the spud of Venus-1A well, located 13km to the north of the discovery well Venus-1X, on\u00a0March 4, 2023. A second drilling rig is expected to join the campaign soon. On\u00a0April 27, 2023, the Company subscribed for 39,455,741 shares in Impact for\u00a0$31.4\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Africa-Oil.png?fit=526%2C528&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Africa-Oil.png?fit=526%2C528&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Africa-Oil.png?fit=526%2C528&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":14618,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-africa-oil-announces-increase-in-its-interest-in-the-core-orange-basin-block-3b-4b\/","url_meta":{"origin":13416,"position":2},"title":"SOUTH AFRICA: Africa Oil Announces Increase in its Interest in the Core Orange Basin Block 3B\/4B","author":"","date":"January 13, 2025","format":false,"excerpt":"Africa Oil announces an increase in the group\u2019s direct interest in Block 3B\/4B, offshore South Africa, to 18.0%. This block lies to the southeast and on trend with a number of Orange Basin oil discoveries including Venus, and is operated by TotalEnergies.\u00a0\u00a0 The Company and its wholly-owned subsidiary, Africa Oil\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/South-Africa-Block-3B-4B.png?fit=852%2C454&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13849,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-eco-atlantic-provides-operational-update\/","url_meta":{"origin":13416,"position":3},"title":"SOUTH AFRICA: Eco Atlantic Provides Operational Update","author":"","date":"August 1, 2023","format":false,"excerpt":"South Africa Block 3B\/4B Post period end, the Company signed a legally binding Letter of Intent with Africa Oil to farm out a 6.25% Participating Interest in Block 3B\/4B, offshore South Africa for up to US$10.5 million in cash. In March 2023, Africa Oil released a New Competent Person's Resource\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/08\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/08\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/08\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/08\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12376,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-eco-atlantic-acquires-additional-interest-in-block-3b-4b\/","url_meta":{"origin":13416,"position":4},"title":"SOUTH AFRICA: Eco Atlantic Acquires Additional Interest in Block 3B\/4B","author":"","date":"June 27, 2022","format":false,"excerpt":"Eco (Atlantic) Oil & Gas has signed a farm-out agreement pursuant to which its wholly-owned subsidiary, Azinam Limited,\u00a0will acquire an additional 6.25% Participating Interest in Block 3B\/4B, offshore South Africa from the Lunn Family Trust, one of the shareholders of Ricocure (Proprietary) Limited, subject to the satisfaction of customary conditions\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Africa-Oil-S.A-Portfolio.jpg?fit=400%2C275&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14245,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-totalenergies-qatarenergy-acquire-participating-interest-in-block-3b-4b-assumes-operatorship\/","url_meta":{"origin":13416,"position":5},"title":"SOUTH AFRICA: TotalEnergies , QatarEnergy Acquire Participating Interest in Block 3B\/4B Assumes Operatorship","author":"","date":"March 6, 2024","format":false,"excerpt":"TotalEnergies has signed, together with its partner QatarEnergy, an agreement to acquire participating interests in Block 3B\/4B, offshore South Africa, from Africa Oil South Africa, Azinam (a wholly owned subsidiary of Eco Atlantic Oil and Gas) and Ricocure. Following completion of the transaction, TotalEnergies will hold a 33% participating interest\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/03\/South-Africa-TotalEnergies-Blocks.png?fit=661%2C659&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/03\/South-Africa-TotalEnergies-Blocks.png?fit=661%2C659&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/03\/South-Africa-TotalEnergies-Blocks.png?fit=661%2C659&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=13416"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13416\/revisions"}],"predecessor-version":[{"id":13420,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13416\/revisions\/13420"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/13419"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=13416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=13416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=13416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}