Tullow, the U.K listed, Africa focused operator, has spudded Likonde-1, a newfield wildcat well in its Ruvuma PSA in Tanzania. The well is expected to be drilled to a programmed total depth of 3,200 meters. Drilling time is estimated to be around two months, subject to any operational delays which can occur in a remote frontier area.
Aminex claims that the “Likonde prospect is a robust faulted rollover structure with the potential for 500 million barrels of oil in place and estimated P10 recoverable reserves in excess of 150 million barrels of oil”, risked by Aminex “at a 1 in 4 chance of success”. The Likonde-1 well will test multiple targets in the Tertiary, Cretaceous, and Permo-Trias Karoo intervals.
Pursuant to a recent farm-out, finalization which was announced on 15 December, interests in Likonde-1 are Tullow Oil (operator) 50%, Aminex 37.5% and Solo Oil PLC 12.5%.