Block 6 Total area - 4,930.00 Km2.. Oil Gravity - 18.7o API Proven Resources - 150 BBO Commercial discoveries - none so far Available 2D seismic - 8,201 Km.
Block 15 Total area: 4,174.00 Km2 Developed area: 2,773.00 Km2 Oil gravity: 18-37° API Water depth: 400-1,500 m Proven resources: 3,5 BB0 Remaining potential - 1,2 BBO Commercial wells - 17 ou of 22
Block 17 Total area: 4,928.00 Km2. Developed area: 1,611.79 Km2 Oil gravity: 20-37° API. Water depth: 600-1,900 m. Proven resources: 2,9 BB0. Remaining oil potential - 1,6 BBO. Commercial wells - 17 out of 20.
Block 18 is identical as 17 on the Sonanagol website, so i am not too sure of the accuracy there ?
These blocks roughly follow the same geographical direction however the depth deminishes at block 6.
Blocks 15,17 and 18 are only partly developed with remaining resources still to be exploited as per tables above.
For anybody interested in Cameroon, the potential there is greater still. The country needs electricity and wants gas powerplants. With only Total and Elf as the major players there is plenty of room for all.
Probably a greater capital commitment and obviously legal title as MS previous conversations with the governement.
However once the success of CVI in Angola and the prosperity that the little local will bring to the Angolans is proven, CVI will do well in the future to gain access and be compensated for the failure of Matanda PH72.
In an email to me from the company, it was indicated that they will be compensated appropriatly and that Robbie Brothers barges will come in useful in the future.
Probably the biggest constant in all these countries is that not only do they wish to capitalise on their resource, but there is also the need as all industrialised countries to raise their living conditions and standards as they prosper. So the need for domestic consumtion will help drive this and stabilise the region.
CVI Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
