Canada’s Stamper Oil and Gas is making plans to buy into an oil project in Sudan. While the company did not disclose the specific asset in question it refers to Block 26 D/E, which had previously been known as Block 7.
Earlier work on the area includes 6,700 km of 2D seismic and 432 square km of 3D seismic, which have indicated a number of new potential locations for drilling. The area covered by the licence is 26,000 square km, with three discovery wells having been drilled, and seven development wells.
Stamper’s chairman, Lutfur Khan, said that he was “very pleased to be back in Africa evaluating oil exploration and development projects. My last foray into Africa was very effective where we advanced oil exploration projects and carried them into production, while we designed and built a successful 1,500 km export pipeline.”
Stamper signed a memorandum of understanding (MoU) to acquire State Oil in October. State has an MoU with Sudan’s Sudapet, the national oil company, under which State can acquire a 50% stake in a specified Sudanese project. Khan founded State and has been involved in Sudanese interests since the early 1990s. In order to complete its acquisition of State, Stamper will have to raise cash. Funds will also be needed for the first three to six months of operations, which should require around US$50,000-100,000.
Stamper cited an analyst report as noting two discovery wells in the central sub-basin had found lacustrine source rocks and that, in the eastern sub-basin, there were positive Campanian indications. The company said it was also working on other opportunities.
There have been previous efforts to tie up a deal with Khan’s State. In 2014, Stamper – then known as Panorama Petroleum – said it intended to acquire the company. At that point, the company publically disclosed that State had an interest in Block 26 D/E, in the Rawat Basin.
At that point, the company had said this was geologically comparable to the northern extension of the Melut Basin.