Supernova Energy awarded two year extension and improved fiscal terms, 7B

  • 20 October 2017

Supernova Energy and PetroGuin have been awarded a two year extension to the Second Stage of the Block 7B Group JVA, effective August 2017. The Extension has been fully ratified by the Guinea Bissau government and gazetted in the formal government publications. Stage 2 has a 3D seismic commitment, which is fulfilled. Supernova plan to carry out further 3D studies in the block with a view to building a larger Joint Venture ahead of the drilling commitment (Stage 3) after two years. There is currently strong interest in the deepwater Guinea Bissau area (the Guinea Plateau), with large-caps and super majors taking exploration acreage immediately north and south, and large hydrocarbon discoveries to the north. Across the Atlantic companies are successfully drilling in Surinam and Guyana, in geological basins thought to be previously conjugate with the Guinea Plateau.

The Ministry of Natural Resources and Environment has also ratified an amendment to the JVA improving the fiscal terms on the JVA. Overall corporate taxes and royalty have been reduced, improving company take and the overall fiscal regime in this frontier basin.

Supernova complete a major new prospectivity study over Block 7B
Supernova has recently completed a major new proprietary study, carried out by Beagle Geoscience. This new prospectivity study has integrated data and petroleum systems elements over the entire deepwater Guinea Bissau basin, resulting in a more comprehensive and coherent evaluation. The new Prospect Inventory benefits from the holistic approach to the basin as well as the block.

Supernova is about to finalise new 3D Seismic data

  • 31 March 2014

Supernova is currently finalising a full interpretation of 3D Seismic data that was shot and processed in 2013. Polarcus acquired 2400 sq km 3D with a modern 10 streamer vessel, and the data were processed through PSTM by DUG in London. Xodus are working through the interpretation, and Supernova will integrate the results with regional studies and basin modelling.

Supernova plans to farm out a majority share of its equity in Block 7B, Guinea Bissau

  • 13 May 2011

Supernova is currently finalising a full re-interpretation and analysis of the prospectivity of Block 7B, offshore Guinea Bissau and is seeking interested parties to take a majority interest in the block.