Hyperdynamics is looking at options after finding signs of encouragement at its recently failed Fatala prospect, offshore the Republic of Guinea in Northwest Africa.
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Map of Guinea acreage, from Hyperdynamics. |
Through detailed log studies, the company says that hydrocarbons were found.
“From our detailed study of the logs conducted over the last several days, we identified 5m of calculated hydrocarbons in the upper Cenomanian channel located above our main target formation. This 5m sand has an average porosity of 17% and a hydrocarbon saturation of 61%. A minor background gas increase was also observed while drilling through this interval,” says Ray Leonard, Hyperdynamics president and CEO.
A review by eSeis, the company’s independent geophysical and petrophysical consultant, concurred with its findings.
“These results are technical calculations, and the thickness, porosity and saturation characteristics from this zone does not by itself make Fatala a commercially developable project, but we believe it could be an encouraging sign for the hydrocarbon potential of the offshore Guinea shelf,” he said.
“Over the next few days, we plan to hold further discussions with our 50% partner Sapetro and with the Guinea government to determine any future options we may have for further activity in Guinea taking into account this additional information,” Leonard said.
The immediate focus of the review that the JV conducted last week was from the targeted 75m thick main channel of the Fatala-1 well, which did not yield any oil shows above oil based mud signature while drilling or from an analysis of the cuttings taken from the well.
Earlier this month, Hyperdynamics reported the failure to find hydrocarbons at Fatala-1, in what the company thought was to be a “potential world-class hydrocarbon discovery.”
Fatala-1 was drilled to a total depth of 5117m below sea level at 2897m water depth, where the well encountered a 75m thick Cenomanian sedimentary channel sequence, but contained predominantly siltstone and clays with no hydrocarbon shows.
Read more:
Hyperdynamics fails at Fatala-1
Hyperdynamics nears final Fatala-1 stage
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