In a statement, Pancontinental said the seismic survey over its Blocks L8 and L9 would define almost 40 mapped leads and was expected to finish in February. As operator, Origin has the option to extend the program by 600km.
Pancontinental chief executive Andrew Svalbe said the company’s three Kenyan blocks contained targets similar to those in Woodside’s own two permits.
“According to Woodside’s regional studies, Kenya is regarded as a most prospective part of East Africa, with several large geological structures hosting multiple targets similar to those found on Australia’s North West Shelf,” Svalbe said.
Woodside is currently drilling the Pomboo-1 well in Block L5 and plans to drill a second well in Block L7, both of which will test large anticlinal traps with multiple reservoir targets on trend with Origin and Pancontinental’s geologically similar Mbawa prospect.
Mbawa is one of a series of larger anticlinal traps location in the eastern half of Block L8 in much shallower water depths of 500-800m, according to Pancontinental.
“Prospectivity in Blocks L6, L8 & L9 is thought to be high with multiple plays, in addition to the Pomboo play, of significant size at various other stratigraphic levels,” Svalbe said.
“The Origin and Gippsland seismic programs will further define mapped leads within these plays for drilling consideration.”
A year ago, Pancontinental farmed-out 75% of blocks L8 and L9 to Origin in exchange for full funding of the $US4million ($A5 million) seismic program and the drilling of an exploration well in each block.
As a result, the company now holds a 25% interest in each of these permits, while also having a 40% stake in nearby Block L6 in partnership with farminee and 60% partner Gippsland Offshore Petroleum.
Pancontinental said GOP would start similar seismic survey in this block once the current one is completed.