Crown Energy releases an update on South Africa Block 2B
Block 2B licence Operator Azinam, a wholly owned subsidiary of Eco (Atlantic) Oil and Gas Limited, has on 21 March 2022 press released a Competent Person’s Report, which included an update on the gross prospective resource estimate for Block 2B offshore South Africa. Please see the table:
|
Oil & liquids Prospective Resources (millions of barrels) |
Gross
|
||||
|
Asset |
Country |
Low Estimate |
Best Estimate |
High Estimate |
Operator |
|
2B |
South Africa |
209 |
491 |
984 |
ECO |
|
Oil & liquids Prospective Resources (millions of barrels) |
Net attributable to Crown Energy's Interest.
|
||||
|
Asset |
Country |
Low Estimate |
Best Estimate |
High Estimate |
Operator |
|
2B |
South Africa |
21 |
49 |
98 |
ECO |
In the previous most recent CPR commissioned by our then Operator Africa Energy for year end 2016, the gross mid case was 184 million barrels. Which means that the net best estimate attributable to Crown Energy has increased from 18 to 49 million barrels.
“This is another positive step forward for Block 2B, where we look forward to the Gazania-1 well being drilled by the contracted Island Innovator semi-submersible drilling rig by the end of the third quarter of 2022,” says Yoav Ben-Eli, CEO of Crown Energy AB.
Crown Energy AB holds a 10% interest in Block 2B offshore South Africa, fully carried for this well. Africa Energy has a 27.5% participating interest in the Block. The Block is operated by Azinam, which holds a 50% participating interest. A subsidiary of Panoro Energy ASA holds a 12.5% participating interest.
MORE INFORMATION
Yoav Ben-Eli, CEO Crown Energy AB
+46 76 312 9793
Alan Simonian,
Chief Operating Officer
+44 7711 625005
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