As of June 2019 Trace Atlantic Oil Ltd is farming out a stake in Block 5B, deep waters of the Senegal (M.S.G.B.C.) Basin. The company is offering between 50 and 70% of its current holding.  A 3D seismic survey acquired in 2014 has allowed to define several prospects for future drilling. The Formosa prospect is the most promising according to Trace Atlantic. It is a structure at Albian sands level on the Cretaceous shelf edge play fairway and has similarities with the SNE and FAN discoveries in Senegal. The prospect lies in 1,160 m of water and has a mean recoverable resource estimate between 200 and 1,000 MMb of oil.   The 5,696 sq km permit is operated by Trace Atlantic Oil Ltd, with a 65% interest. Partner is Sphere Petroleum with 35%.   Interested parties should contact Stellar Energy Advisors at +44 (0) 20 7493 1977 (phone) or info@stellarlimited.com (email).
As of June 2019 Trace Atlantic Oil Ltd is farming out a stake in Block 5B, deep waters of the Senegal (M.S.G.B.C.) Basin. The company is offering between 50 and 70% of its current holding.