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Baraka Petroleum Limited is a newly formed Australian public company, established to acquire, consolidate and develop oil & gas assets and activities, located in the potential hydrocarbon basins of West Africa.

 

Baraka has one of the largest oil and gas portfolio's in West Africa, which has attracted the attention of international petroleum exploration and production companies. The Company has secured rights to explore and develop eight tenement areas covering over 272 000 kmÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚², in Mauritania and Mali.

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Below is just some of the prospects in the Taoudeni Basin on the Mauritana/Mali border.

 

Closure M3 is a very large target eg 30km in length by 10km wide.

 

NOTE: This is based upon 2D seismic circa 1980.

Modern seismic analysis could yield more or less detail.

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Baraka Evaluates Oil Reserves Off Morocco at Cap Juby.

 

The trouble is, 400sqkm of this straddles the disputed state of Western Sahara, sovereignty over which is claimed by both the Rabat movement and the Polisario Front.

 

http://www.oilvoice.com/m/uploadDetail_pub...?upload_ID=3810

 

QUOTE
Baraka Evaluates Oil Reserves Off Morocco
Tuesday, May 31, 2005

Baraka Petroleum Limited, which was admitted to the official list of the ASX on 23 May 2005 with official quotation of the companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s securities to commence on 25 May 2005, has entered into a Memorandum Of Understanding (MOU) with the Moroccan national oil company ONAREP to examine the Cap Juby offshore tenement.

This highly prospective project, covering 3591km2, is predominately located in Moroccan national waters, with less than 400km2 of the project located in an area of Morocco currently under United Nations jurisdiction. The water depth within the tenement varies from 0m to approx 200m.

A number of world-class petroleum companies, including Maersk oil & Kerr McGee are currently holding oil & gas tenements to the north and south of the Cap Juby project, with international waters creating the western boundary of this project.

The known Cap Juby heavy oil accumulation within the tenement has estimated reserves of 40 to 70 million barrels. The project also contains other leads and prospects, including the Winnow Lead with a potential for up to 300 million barrels oil in place (OIP), and the Shazam Lead with a potential for up to 450 million barrels OIP.

As part of The Cap Juby MOU, Baraka has the exclusive right, for a period of 6-months, to evaluate the field and if appropriate negotiate an exclusive exploration and development concession for the project. Baraka is planning to immediately commence a US$200,000 program, including a re-evaluation of available 2-D and 3-D seismic data, to determine the structural complexities of Cap Juby heavy oil reservoir.

All evaluation work on this project will be out-sourced to RISC, an oil & gas advisory firm with technical and valuation expertise, based in Perth. It is estimated that US$ 200,000 will be spent on the first pass evaluation of the dataset presently held or being actively acquired from those companies who have held the project in the past. This investment will cover a review of the data both hardcopy and softcopy, recasting of the economic model and a recommendation by, end-August 2005, for the step to the commitment of a full Exploration License.

Baraka Petroleum Managing Director Max de Vietri said, ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂBaraka Petroleum is positioning itself as an industry leader in identifying and opening up opportunities in hydrocarbon prospective regions of West Africa.
ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“With the largest holding of exploration tenements in the region, including neighboring countries of Mali and Mauritania, we are committed to evaluating and seizing opportunities that we feel will provide value to the company and its shareholders.

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Given the advances in technology and the improving market conditions, not least the increase in oil prices, we believe that the Cap Juby offshore tenement is an opportunity that we cannot pass up.

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“This opening represents an excellent opportunity for the company to gain and develop oil reserves at an early stage of our companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s development.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

Cap Juby has been subjected to several prior evaluations, with the most recent being ROC Oil in 2000. ROC Oil held a portion of the area, covering the Cap Juby heavy oil discovery, together with the Winnow and Shazam Leads, from 1998 until 2000. During this time they evaluated the previously identified oil discovery zones together with others to the northeast, presently being evaluated by leading international petroleum company Maersk Oil. These historical evaluations were conducted in a climate with relatively poorer market conditions, including oil prices below US$15 per barrel, compared to the current market.

Baraka considers the changed market conditions provides the company with confidence that a revised evaluation of the area may prove the economic viability of the Cap Juby heavy oil accumulation and other possible discoveries.

The company is aware of the perceived risk associated with working in the region, but believes that through an understanding of local customs and continued growth of existing long-term relationships with governments at all levels in the region, it is able to manage and greatly minimise such risk.

A further example of this is presence of other major petroleum companies who continue to expand their presence in West Africa. Using this strategy Baraka has been able to create a level of acceptance and trust that helped it establish a firm foundation in the region.

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http://www.woodside.com.au/Regions/Africa/.../Mauritania.htm

 

QUOTE
In 2005, Woodside also took an interest in two onshore blocks in the Taoudeni Basin near the Mali border. The blocks cover about 60,000sqkm.

Seismic acquisition is possible in 2008.

 

Looks like updated seismic may be a while yet according to Woodside website.

However anything is possible and seismic maybe available before that date.

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Sorry, its a slow day.....

 

http://www.bgs.ac.uk/mmi/english/hydrocarbons/taoudeni.html

 

QUOTE
Taoudeni Basin

The Taoudeni Basin has experienced only one period of modern oil exploration: Agip and Texaco were each awarded blocks in 1970. The Texaco block comprised 150 000 km2, whilst the Agip blocks comprised 104 000 km2.

In 1972ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“1973, Texaco acquired 4600 km of 2D seismic data and acquired an aeromagnetic survey. Agip acquired 1668 km of 2D seismic data.

These surveys are of fairÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“poor quality, but are invaluable for identifying key structural elements in the basin.

In April 1974, Texaco completed the Abolag-1 well and recorded gas shows to TD. A drillstem test recorded an equivalent 480 000 scf/d from Infracambrian limestones.

In October 1974, Agip completed the Ouasa-1 well, but failed to reach the Infracambrian objective tested by Texaco. It is likely that Ouasa-1 did not test a valid closure......

The Taoudeni Basin is a unique, under-explored basin that, despite a lack of nearby analogues, bears all of the play concepts for a successful petroleum province. Infracambrian source rocks are poorly understood, but proven to exist and to be oil mature.

These source rocks are adjacent to stromatolitic limestone reservoirs that are demonstrated in the Abolag-1 gas recovery. Younger Ordovician reservoirs are probably economically more important, but were not intersected in closure at either well.

 

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http://www.eia.doe.gov/emeu/cabs/maghreb.html

 

QUOTE
.....other companies have lined up to explore onshore blocks, particularly in the Taoudeni Basin in the northeastern part of the Mauritanian desert.

In January 2005, France's Total signed two production sharing contracts, covering nearly 22,394 square miles. Spain's Repsol, China National Petroleum Co. and Woodside Petroleum are among the companies that have been awarded Taoudeni blocks.

 

BKP was not listed until recently, so was not mentioned in the above article....

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