Canada’s First Calgary Petroleums (FCP) advised it has signed a contract with Algerian firm Enterprise Nationale de Geophysique (ENAGEO) for the acquisition of 230 square kilometers of 3D seismic data on Block 406a, known as Rhourde Yacoub, in Algeria. Work is scheduled to commence by mid-February and will take approximately two months to complete. Block 406a covers 1091 square kilometers in the central part of the Berkine Basin.
In excess of four billion barrels of oil have been discovered in several giant fields within 20 kilometers of FCP's Block 406a. FCP's mapping of the existing 2D seismic data on the block has revealed the existence of several strong leads with the potential for light, sweet oil in multiple sandstone horizons. The 3D program will define several exploration locations, the first of which will be drilled mid-2002.
FCP's acreage holdings in the prolific Berkine Basin cover approximately 2,200 square kilometers. The holdings are contained in two licenses—406a signed in June 2000 and 405b (Ledjmet) signed October 2001—both held 100 percent by FCP. FCP has received formal notification of the official gazetting of 405b dated December 26, 2001.
Block 405b, also situated in the heart of the active Berkine trend, contains proven reserves of gas and liquids together with strong exploration leads over much of the block. Fieldwork will commence early in 2002 focusing on the rapid appraisal of the MLE-1 discovery located on the Block. This will be accompanied by an extensive seismic survey—both 3D and 2D—to define the block's key exploration prospects. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
