Oranto owned and operated deepwater block in the Niger Delta with major upside potential.

OPL 320 is situated in the western Niger Delta deepwater province, close to Shell’s Bonga field and ExxonMobil’s Bosi development, and just north of Shell’s Bobo discovery. Oranto increased its interest in OPL 320 in 2014 to 100 percent, acquiring partner Orandi Petroleum’s 35 percent share. The PSC was signed in February 2002 and Oranto met its original work commitment to drill one well and acquire 3D seismic data. High quality 3D seismic data, interpretation and further analysis is available for most of OPL 320. Three independent prospects are found within the block.

In 2007 the OPL 320 partners drilled the Echim-1 well in 2,000 meters of water to 5,025 meters measured depth, and hit 25 meters of net hydrocarbon pay in 184 meters of high-quality reservoir sand. The discovery is estimated to comprise 76-186 mmboe proven reserves at two reservoir levels, with upside resource potential of 176-316 mmboe at other levels. The A prospect complex provides a low risk, immediate opportunity for drilling in OPL 320. Like Echim 20 km to the east, this prospect is a low relief structural dip closure. It is estimated to contain prospective resources of 248-320 mmbboe. From the southern edge of the acreage, in OPL 322, the Bobo field extends into OPL 320. Bobo itself contains over 250 mmboe of reserves, with the contingent resources across Oranto’s Bobo North prospect estimated at 273-350 mmboe. Oranto seeks a farm-in partner with expertise in deepwater environments and technical operatorship, and adequate capital to drill the block’s second exploration well.