Bowleven PLC, Edinburgh, will take a farmout from Admantine Energy Ltd. to earn a 50% equity interest in Block 11B in northwestern Kenya.
The block covers 14,000 sq km in the Loeli, Lotikipi, Gatome, and South Gatome basins. The basins are northwest of the Lokichar basin in which Tullow Oil PLC has made the Ngamia-1 oil discovery (OGJ Online, July 16, 2012). The northern part of Block 11B borders South Sudan and Ethiopia.
Analysis of the existing gravity and magnetics and seismic data sets suggest that the basins on Block 11B are of similar form to Lokichar and analogous geological plays and petroleum system elements are expected, Bowleven said.
In return for acquiring the interest Bowleven will fund the work program for the initial 2-year exploratory period at an estimated cost of $10 million. The program is to include an airborne geophysical survey and 2D seismic. Bowleven will also provide technical support to Adamantine, as operator. Completion of the farmout is subject to normal approval from the Kenyan authorities.