INFORMATION MEMORANDUM Q1 2023
Supernova Energy operates (90%) Blocks 7B and 7C offshore Guinea Bissau, with the remaining 10 % being held by Petroguin, the State Oil company.
These two large exploration blocks (8000 km2 and 7000km2 respectively) have a large 2D database covering most of the acreage and Polarcus acquired a 2300 km2 3D survey over the deeper half of Block 7B in 2013. These multiclient 3D data were licenced by Supernova in two tranches in 2014 and 2017. In 2020 TGS reprocessed the entire 3D dataset from raw data through to new AVO, time and depth products. The survey forms part of the large JAAN 3D survey.
In 2017 Supernova commissioned Beagle Geoscience, a UK technical firm with excellent credentials in the MSGBC region, to carry out a full study over both the 7B block and the deepwater basin area. This new prospectivity study has integrated data and petroleum systems elements over the entire deepwater Guinea Bissau basin, resulting in a comprehensive and coherent evaluation. The new Prospect Inventory benefits from the holistic approach to the basin as well as the block. The proprietary report forms the basis of an upgraded Data Room running in London.
The acreage has at least three highly prospective play fairways. In the shallow part of Block 7B the Cretaceous clastics overly Upper Cretaceous source rocks (Turonian), similar to the proven play further north at Sinapa. Below this play lies the Lower Cretaceous section, a substantial section with multiple opportunities for reservoir and source pairings. Structural leads are found over most of the blocks and continue off the shelf into the deepwater part of the block. Here play fairways are expected from the Jurassic (carbonate source and reservoir) through to the Lower Cretaceous deep marine clastics of the distal Casamance system.
The Cretaceous play is similar in style to the Surinam / Guyana play in Latin America, conjugate basins originally connecting the Demerara High with the Guinea Plateau. The prolific “Canje” equivalent source rock can be expected from Albian through to Turonian formations in the Guinea Bissau area, charging Lower Cretaceous sands within very large structural closures.
Reefal carbonates are also seen to develop on the crest of the carbonate platform in the blocks, and analogues exit for successful oil exploration wells in analogous carbonates at Ranger in Guyana and Cap Juby in Morocco.
The Beagle Geoscience study has mapped major structural leads closing against the Jurassic platform margin, with mid Cretaceous source rocks, and large sand-rich deep marine channel and turbidite systems occurring deep into the western half of the blocks.
The lead-inventory contains some 10 leads and prospects with unrisked oil-in-place volumes ranging from a few hundred million to a few billion barrels each. In the attached PDF an overview of the various play types, their characteristics and the individual prospects is shown.
The MSGBC Basin lies immediately to the South of an area of active exploration in West Africa, with major hydrocarbon discoveries in Senegal and Mauritania.
Across the Atlantic in Latin America oil companies are successfully making multiple significant discoveries in Surinam and Guyana, in geological basins known to be previously conjugate with the Guinea Plateau..
Project summary
- An exciting exploration Farm-in opportunity in two blocks in a prospective region of the MSGBC basin.
- Extensive 2D and 3D data base.
- Recent 3D reprocessing and sea floor multi-beam and sea seep (MBSS)
- Major new basin- and block study carried out by Beagle Geoscience
- Multiple billion barrel prospects, providing ample running room
- On trend with recent large oil and gas discoveries further north at Sangomar, Ahmeyim and Tortue, and with the recent Guyana/Surinam discovery bonanza.
- World class source rock potential
- Excellent fiscal terms (tax and royalty), amongst the best in the world