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Sunbird Energy Ltd has successfully lodged an application for a Technical Cooperation Permit (TCP) for 1,257km2 (125,700 hectares) of prospective acreage in the Springbok Flats Project, located 150km northeast of Pretoria in northern South Africa.
Detailed geological assessment of 600 exploration bore holes revealed a core area of resource potential within the permit that could significantly increase Sunbird’s resource base at Springbok Flats from its existing Best Estimate Gas-in-Place of 620 billion cubic feet.
Managing Director, Will Barker, said the new permit would provide contiguous rights over 245,600 hectares of the Springbok Flats Basin and see a 28% increase in Sunbird’s South African holdings.
“Once granted, the TCP will allow us to undertake technical and desktop studies while maturing the surrounding Springbok Flats acreage.
“Resource potential for the Project area will be further defined by the upcoming core hole drilling program that is due to start at Springbok Flats in the second quarter of this year,” he said.
The Petroleum Agency of South Africa (PASA) has formally accepted Sunbird’s application, which will now undergo assessment. A decision from PASA on the grant of the permit is expected within 6 months. On completion of the 12 month permit term, the TCP provides the exclusive right to apply for and be granted an Exploration Right for the same area.
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