Sunbird Energy has announced the completion of an Independent Resource Assessment of Block 2A in South Africa. Sunbird holds a 76% interest in the block and is the nominated operator. Block 2A is currently in year 5 of a 30 year production right from the Department of Mineral Resources, South Africa.
In October 2013, following the completion of the field development concept studies by Wood Group Kenny and the USTDA grant contributing to the undertaking of a full field development plan, Sunbird commissioned MHA Petroleum Consultants, Denver (MHA), to complete an independent assessment of the prospectivity of the 5000km2 Block 2A in which the Ibhubesi Gas Project (IGP) is located. The objective of the independent evaluation was to identify the exploration potential of the block and thereby assess the volume of gas that could potentially deliver future incremental gas to the IGP project.
Sunbird has announced that these studies are now complete and have determined a Best Estimate 7.8 TCF (SNY: 5.9 TCF) of prospective gas resources within Block 2A.
The estimate of a material volume of prospective resource confirms the significant exploration potential of Block 2A. Sunbird believes that given the historically high exploration success rate within the block, which has seen 7 of the 11 wells drilled to date discover commercial volumes of gas, that there is a reasonable chance of further gas discoveries with which to build the gas portfolio and enhance the commercial potential of the IGP project.
Subsequent to this review, it is Sunbird’s intention to high grade the portfolio through additional geological studies to identify key targets for future exploration drilling based on geological certainty, size of the prospects and proximity to the planned IGP development. Sunbird intends to initiate these geological studies during 2014.
Sunbird Managing Director, Will Barker, commented on the results of the resource assessment: 'The booking of 7.8 TCF of Best Estimate Prospective Resources for Block 2A, in and around Sunbird’s planned Ibhubesi Gas Project, confirms the significant exploration potential within a block that has a proven track record of exploration success with 7 of the 11 wells drilled to date encountering commercial gas volumes.'
'During 2014 Sunbird will continue to pursue our development planning, engineering design and gas commercialisation negotiations for the IGP. The completion of this material prospective resource evaluation provides Sunbird with important information to increase the gas portfolio, provides a roadmap to focus future exploration activities and confirms the potential of the greater Block 2A to supply additional gas to the IGP and ultimately gas-to-power customers in the energy constrained South African market.'
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