$1,000,000

Tanzania Rukwa South

Heritage, the operator with 100% WI on Rukwa South, is looking for partner to appraise multiple prospects in the licence. The prospects are identified along the northern lake margin that are reachable with land based operations.

Available data include reprocessed 2D legacy seismic data, well data studies in 2012/2013 and c. 600 km 2D seismic infill campaign along the basin margin.

Earlier exploration activity within the Rift Basin was conducted by Amoco in the mid-1980s with the acquisition of c.2,300 kilometres of 2D seismic data and the drilling of two wells. Heritage completed reprocessing of the legacy 2D seismic data and additional well data studies in 2012/13, and proceeded with the acquisition / processing of c. 600 kilometres of 2D (OBC and land) seismic infilling the legacy data and targeting the basin margin.

Mapping of these data have identified multiple prospects, located along the northern lake margin that are reachable with land based operations. The largest prospect, Rukwa-A with c. 200MMbbl resource potential is considered drill ready.

Details

Asset Name : Rukwa South
Ref : AF-TZA-RS
Continent : Africa
Country : Tanzania
Location : Onshore
Project Phase : Exploration
Latitude : -8.0018
Longitude : 32.6673
License Start : 2011
Operator : Heritage Oil
Farmout company : Heritage Oil
Work Programmes : Drilling
Back Costs : $100,000 - $1m
Equity Offered : 40 - 60%
Deal Status : Open
FarmoutAngel Valuation : $5,000,000 - $10,000,000
FarmoutAngel confidence : Low
Consideration Sought : $1,000,000

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