Statesman sees potential on northwest Sudan block

An independent consultant has identified the potential for a 1.5 billion bbl gross unrisked prospective resource on Block 14 in northwestern Sudan, said Statesman Resources Ltd., Vancouver, BC.

Statesman’s main asset is a 50.1% shareholding in Statesman Africa Ltd. that in turn beneficially holds a 75% working interest in Block 14. Statesman also has oil and gas interests in Kansas and California.

The consultant found potential on Block 14 for a portfolio of prospects that could have a gross unrisked total prospective resource of 1.5 billion bbl, Statesman said. This resource is based on 30 potential traps containing a best estimate of 50 million bbl each.

The study identified the gross resource range of each trap to be from 20 million bbl to 200 million bbl each, with the best estimate being 50 million bbl/trap.

The consultant determined the block to be frontier hydrocarbon exploration acreage. It placed the chance of success at 4.5% but said seismic acquisition and geological mapping could raise it to 7-8% and said it could improve to 30% if a petroleum system were proven by nearby drilling in the Mourdi or Mesaha subbasins.

Block 14 also borders Libya, where the historical chance of success in the Murzuk basin farther to the west is above 40%. Murzuk is considered an analog to Block 14, Statesman said.

The consultant noted that drilling is picking up in the region. Just south of Block 14, scout reports indicate that a well recently drilled by Sahara Oil Co. and the Al Qahtani joint venture had intermittent oil shows over a 300-m interval possibly in Devonian sandstones. If accurate, this could indicate a viable source. It is believed that a second well is planned in the block.

In Egypt just north of Sudan Block 14, Petroceltic-Melrose have spudded a well in the Mesaha basin that is expected to take 45-60 days to drill.

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