A six year exploration PSA was awarded in March 2017 immediately initiating new data acquisition and technical studies.
Oranto signed a PSA for South Sudan Block B3 in March 2017. The PSA has a six year exploration period and Oranto is the Operator with 90% equity, Nile Petroleum holding the other 10%. The exploration period is divided into three commitment periods of 3 years, 2 years and a single year in the second and last optional commitment period. Work program obligations during the initial three year commitment period is limited to database building and interpretation studies. There is a drilling commitment in each of the two optional commitment periods. Two unexplored sub-basins (Yirol and Tali) have been inferred on block from previously acquired gravity data. Trap types are anticipated as Cretaceous titled fault blocks on trend with the Kenya extensional rift system.
The sub-basins on Block B3 run parallel to the Jonglei Sub-basin which itself is an extension of the proven oil prone Muglad Basin. Clastic reservoirs are thought to exist of Cretaceous age in tilted fault blocks associated with basin formation. The world class Abu Gabra lacustrine source rock is anticipated being present at depth within these rift systems.