10% share of 1530 square kilometers
Pending confirmation of the extension of the exploration period under the OPL 226 production sharing contract (“PSC”) by the appropriate Nigerian governmental bodies, ShoreCan will hold a 10% carried interest in OPL 226 that covers 1,530 square kilometers.
OPL 226 has a best estimate of 2C contingent resources of 16 million bbls (gross) and unrisked prospective resources of 533 million barrels (gross) of oil. The first planned well is a horizontal production well offsetting the Noa-1 discovery well followed by additional appraisal/production wells. OPL 226 has multi-play potential and could generate c.60,000 bpd under a full development scheme.
60,000 bpd under a full development scheme
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17 cased oil wells