offshore nigeria acquisition opportunity

Below is a summary of the AJE FIELD.....Hope it helps..a bit aged...however details of the field are there


http://www.sovereignoil.com/PDFs/Aje_Teaser_30_Nov_06.pdf



Sovereign Oil & Gas Company II, LLC of Houston, Texas and
Syntroleum Corporation are seeking qualified companies to
participate in the fast track development of a condensate rich
gas accumulation with significant upside potential for gas,
condensate and black oil. This asset is located offshore
Nigeria in OML 113, adjacent to the prolific Niger Delta
producing area. The Aje Field fast track development has a
P90 total of 291 BCF sales gas, 35 MMB of condensate and
LPG and 23 MMB of 39º API crude oil.
The Aje Partners plan to drill the Aje-4 appraisal well 1 km
east of the Aje-2 during 2Q of 2007, which if successful will
confirm a P50 total of 544 BCF of sales gas and 125 MMB of
oil, condensate and LPG’s. First production is planned for
2nd half 2008.

The West Africa Gas Pipeline (WAGP) passes within 15 km
of the Aje Field and will be selling 150 MMCFG/D westward
to Ghana by February 2007. Subject to the execution of a
Gas Sales Agreement with the WAGP owners the planned tie
in point for the Aje gas sales line is 32 km NE of Aje Field.
There is an additional 70 MMCF/D market for Aje gas in
Lagos, approximately 45 km from the tie in point to the
WAGP pipeline. Commercial discussions to date related to
these two markets indicate the potential to sell between 80 to
160 MMCF/D of Aje gas and produce between 8,000 to
16,000 BPD of condensate and LPG and up to 26,000 BPD
of black oil.
The Aje Field is a commercially viable project and the Aje
Partners are proceeding with development plans. The Aje-1
and Aje-2 will be re-entered and completed as gas/
condensate producers with subsea wellheads and associated
flowlines and manifolds in 320 ft. water depth. These will be
brought to a FPSO via risers for processing including an
onboard plant for the extraction of the associated LPG’s. The
dry gas will then be transported to the sales point via a 16”
pipeline. Upon the successful completion of Aje-4, it will be
tied into the system in a similar manner.
Aje Field is defined by 700 km² of 1997 3D seismic data and
2 tested wells drilled from a surface location in 320 ft. of
water to bottom-hole locations in approximately 1,800 ft. of
water. The Aje-1 discovery well has 120 ft. of normally
pressured net gas, condensate, and oil pay in Turonian
sandstones that tested at combined gas rates of up to 60
MMCF/d from three cased-hole DSTs as well as 44
o
API oil at
a rate of 2,389 BOPD. The Aje-2 confirmation well has 161 ft.
of net gas, condensate and oil pay in the Turonian as well as
29 ft. of net oil pay in Cenomanian sands that separately
flowed 3,743 BOPD of 39º API under-saturated crude oil at
stabilized rates. The radius of investigation of this test was
7600 feet. The Aje-3 well was drilled as a deep water stepout in 2005 that confirmed an extensive hydrocarbon column
but encountered poor reservoir development.
The 3D seismic mapping indicates a 20,760 acre Turonian
anticlinal closure straddling the shelf break, with most of the
structure accessible with a conventional jack-up drilling rig.
The P10 upside potential for the Field is estimated at 1.2 TCF
natural gas and 232 million barrels of total recoverable