Rift energy has said the initial exploration program on block L19 have been very encouraging and confirm that it is a viable project.
According to the latest investor update Rift energy says it has identified multiple drillable structures with data from the seismic confirming the company’s original total recoverable potential in the range of a billion barrels of oil / trillion cubic feet of natural recoverable reserve gas.
Rift says the complete results of the 724 line KM 2D Seismic Survey that was completed in June 2014 will be out by year end.
The 2D seismic currently under processing and interpretation will be combined with the results of the AGM and the Geochemical Survey to identify possible drilling locations.
A Geochemical Survey completed in late 2013 resulted in indications of hydrocarbon microseepages at various areas of interest with a total of 640 samples collected across structures of interest.
The 2D seismic will also help in better interpreting a number of geochemical anomalies were detected in the geochemical survey.
To date only a single well has been drilled on the block which reached 1540 meters. Analysis at a lab in Houston confirmed presence of oil in the core samples collected from the Ria Kalui well in 2013.
“Our work on Block L19 in Kenya continues to yield positive results and our business development pipeline remains strong as we look for significant assets to add to our project portfolio,” says president and CEO Fred B. Zaziski.