The processing of the 3D seismic acquired in 2011 was completed during 2012. Interpretation of the data indicates multiple large prospects within both the post-rift Upper Cretaceous fan sands (the same play type as Jubilee) and pre-rift Lower Cretaceous rotated fault blocks (the same play type as the Espoir and Baobab oil fields). Several prospects and leads have been mapped and have unrisked prospective resources of greater than 3 billion barrels.
In May 2012, the Ministry of Energy Ghana granted a 12 month extension of the Initial Exploration Period under the Petroleum Agreement in respect of the Offshore Accra Contract Area. The initial exploration period now ends on 23 September 2013, by which date the commitment well must be drilled. In December 2012, Tap farmed out its interest to a wholly owned subsidiary of Ophir Energy plc (Ophir) who assumed operatorship of the Offshore Accra Contract Area. Tap have recommended the prospect, Starfish-1, for drilling in 2013. This well will target a large, deepwater, Jubilee look-a-like trap with prospective resources in the range of half a billion barrels (431 mmbbls (P50); 665 mmbbls (PMean)).
