Hyperdynamics initially reported that its Fatala 1 new field wildcat on Block E3, 200 km offshore Guinea, had failed to discover hydrocarbons. The well, which was targeting stacked Cenomanian turbidites in a transform margin play, with a Pmean recoverable resource estimated at 647 MMbo, was spudded in August 2017 in a water depth of 2,897m. It reached a TD of 5,117m in early September, intersecting a 75m Cenomanian channel sequence largely containing siltstone and clay lithologies. However, further detailed study of the well logs and oil saturation has identified 5m of calculated hydrocarbons with average porosity of 17% and a hydrocarbon saturation of 61% in the Upper Cenomanian channel located above the primary target formation. Fatala 1 was drilled on the edge of this channel, and the well result will be integrated with the seismic data to determine the commercial potential of this zone.
Hyperdynamics believes that whilst the well is not commercially viable these are encouraging signs for Guinea’s hydrocarbon potential and has requested a two-year appraisal period. The company was considering three additional drill targets for future exploration on its Offshore PSC acreage (blocks E3 and F3), particularly the Bamboo prospect north-west of Fatala.
Fatala 1 had initially been slated for drilling in 2014, but faced numerous delays. Following a 77% partrelinquishment of the Offshore PSC, the current exploration phase was extended by a year to September 2017, to allow the well to be drilled. In April 2017, Hyperdynamics completed its farm-out of 50% equity in the Offshore PSC to SAPetro, in a deal that saw SAPetro pay 50% of the cost of the well, in addition to reimbursement for past costs. SAPetro has now said it will assign its 50% interest to Hyperdynamics, who will be seeking new partners.