$10,000,000
Uganda Ngassa
Oranto Petrouem are seeking a partner to drill an appraisal well in the Albertine Graben. Historic drilling has identified oil that flowed to surface as well as a gas field that is not appriased.
A number of closures at different stratigraphic levels have been mapped, which may yield in place oil volumes of 311 mmbls. The very young rift system has well operational challenges that most likely require an in-lake drilling solution such as a barge to allow the drilling of vertical wells to test a shallow gas play identified on seismic data and a deeper mega closure anticipated to host recoverable oil reserves of >100 mmbls.
Details
Asset Name
: Uganda Ngassa
Ref
: AF-UGA-NGA
Continent
: Africa
Country
: Uganda
Location
: Onshore
Project Phase
: Appraisal / Development
License Start
: 2017
License Expiry
: 2021
Operator
: Oranto
Farmout company
: Oranto
Mandated Agent
: Simco Petroleum
Work Programmes
: Drilling
Back Costs
: $1m - $10m
Equity Offered
: 60 - 80%
Deal Status
: Open
FarmoutAngel Valuation
: $5,000,000 - $10,000,000
FarmoutAngel confidence
: Medium
Consideration Sought
: $10,000,000