Jacka Resources has elected not to participate in the new 3D seismic survey covering all of OML113 of Aje Field offshore Nigeria, in which Jacka holds a 5.0006% revenue interest. This is because the Aje Field and many of the leads in OML 113 are already covered by an existing 3D seismic survey, the company said.
The survey is being carried out as part of a joint acquisition program with the adjacent block to the east, OPL 310, where a significant discovery was made in 2013 by the Ogo-1 well.
“That survey extends across OPL310 and was, we understand, also used to define the successful Ogo prospect. Jacka may elect in the future to receive the data by paying its share of the acquisition cost (estimated at approximately US$600,000) plus a penalty of 100% of that cost. It is expected that the final data will be available in approximately 12 months,” Jacka said in a statement.
Jacka’s position regarding this new survey will not delay the development plans for the Aje Field or other exploration activities in OML113. Further, Jacka’s net revenue interest is not affected.
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