Tende Energy PLC
Oil & Gas
16 July 2004
Shares In Issue*
Tende Energy PLC (Formerly Sirius Petroleum) is an Africa-focused oil and gas development, production and exploration company, focused on building a range of diversified producing and development assets.
The Company operates, in partnership with local partner COPDC, the prolific on-shore OML65 block which is currently producing 10,000 bbls/d located within the Greater Ughelli Depobelt, Niger Delta. Sirius is developing the producing Abura field through a fully funded Phase 1 Approved Work Programme consisting of up to 9 new wells, designed to increase oil production by a further 11,000 bbls/d.
ABOUT THE Operation
About OML65: a producing block located within the Greater Ughelli Depobelt, Niger Delta.
- The existing producing field, Abura, has been in production since the 1970s, has been ascribed 16.2 mmbbls remaining 2P reserves.
- OML65 also contains two further discovered fields with an estimated 34.9 mmbbls1 additional 2P reserves, Owopele and Osioka. The fields have not been developed to date and will form part of the forward work programme.
- The recoverable volumes attributed to the Abura, Osioka and Owopele fields by Gaffney Cline are based on an assumed average recovery factor of 30%, which is conservative in the context of recovery factors typically achieved on analogous fields in the Niger Delta.
- Gaffney Cline has estimated 3P reserves of over 78mmbbls for Abura, Osioka and Owopele, implying an additional 27mmbbls of recoverable volumes in the high case.
- In addition, there are two targeted deeper prospects at Abura and Osioka containing an additional 227mmbbls1 oil in place, to which Gaffney Cline have attributed P50 prospective resources of 91mmbbls, implying a recovery factor of 40%.
- The production facilities servicing the Abura field are capable of handling up to 40,000 bopd.
1 Gaffney Cline & Associates June 2021 CPR
The Company will be seeking to commence the process for the proposed admission of its ordinary shares on London’s AIM market in H1 2023.
Non Executive Director
Olukayode Olufemi Kuti
Simon John Lindsay Hawkins
Non Executive Director
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