watch the partners...

I think many have missed the likely next announcement...

We were more or less told directly by Smyth n the recent broadcast.

CVI's edge over other's in the region is clearly to be measured in the strengths and connections of their partners...in looking to what CVI might get next, perhaps it is pretty obvious we should be looking to the activities of these partners?

According to the Wall street radio broadcast, Petro Energy Africa Limited are currently "negotiating" for a significant lease "right on the Nigerian border" (or words to that effect)...one assumes therefore within the Niger Delta Deformation Front at or about the Rio Del Rey Basin?

The following map shows the area in question, it borders Cameroon/Nigeria...



From a Wikipedia reference...

"The Niger Delta province is a geologic province in the Niger Delta of West Africa also known as the Niger Delta Basin. The province contains one petroleum system, the "Tertiary Niger Delta (Akata-Agbada) Petroleum System" (classified as number 701901), the majority of which lies within the borders of Nigeria, with suspected or proven access to Cameroon, Equatorial Guinea and São Tomé and Príncipe. This petroleum system contains as much as 5.5 109m³ (34.5 billion barrels) of recoverable oil and 2.7 109m³ (94 trillion cubic feet) of natural gas at the origin. This field is not a single gigantic field but composed of thousands of individual reservoirs, most of which are sandstone pockets, trapped within oil-rich shale strata.

Oil fields in Niger Delta are not large but are plentiful, with 574 fields discovered (481 oil and 93 natural gas fields). The largest field contains just over 159 million m³ (1 billion barrels). There are many small reservoirs which remain to be explored. Success rate to hit oil in the past of this area is as high as 45%.

The total production of the Akata-Agbada system is about 320,000 m³ (2 million barrels) per day. Remaining proven reserve in 2002 is about 3.5 to 3.8 109m³ (22 to 24 billion barrels). Future discovered oil, estimated by US Geology Survey, is as much as 6.4 109m³ (40 billion barrels), ranking the province as the twelfth largest in the world."

I suggest people read that again.

Following are another two snapshots of the area from my files, one a simple Google reference, the other a gas/oil occurrence reference.


Google image of Rio Del Rey (part of Niger Delta Deformation Front)


Oil/Gas overlay same area

From what I can ascertain, the are is prolific in oil, but typically does not throw up massive single fields, rather we get a rather compartmentalised series of smallish (if you can call mostly 10-100mmbls smallish), clusters of accumulations.

In my view, the nature of this style of accumulation is within reach of most mid size operators and as such, conducive to supporting many smaller operators rather than one or two majors. This is clearly part of the reasoning behind the focus of government to award permits in many of these areas to numerous smaller "local" operators, but one assumes those showing clear capacity to bring it to market.



If I were a betting man, I might be the next big excitement...but will "negotiations" be resolved this side of xmas?

Cheers!