Block LB-13 Liberia
In 2013, several transactions closed that allowed COPL to have a 17% equity interest in Block LB-13 offshore Liberia. ExxonMobil has the remaining 83% equity interest and is the block’s operator.
Block LB-13 covers an area of approximately 2,500 square kilometres. The drilling targets identified by COPL are Cretaceous turbidite sand stratigraphic traps. COPL has a license for 3D seismic shot on the block in 2010 that appear to have similarities to recent deep water oil discoveries made offshore Ghana and Sierra Leone. The Company commissioned an independent reserves evaluator to conduct a Gross Prospective Petroleum Resource Report for Block LB-13. The evaluator reviewed the available seismic and chose the top 13 prospects on the block to derive a statistical aggregate number of 2.6 billion barrels of Gross recoverable oil at the P50 (Best Estimate) probability level.