In late January 2020 industry sources indicated that the Guinea authorities are currently working on delimiting 14 new exploration acreage blocks onshore. The block limits will be finalized using an aeromagnetic survey. It is assumed that the authorities decided to create new acreage blocks following the relinquishment of blocks 1 and 2 by Simba Energy who was the only onshore right-holder.  The Bove Basin is a high-risk frontier area, with no seismic and drilling exploration activity undertaken so far. The objectives are possibly limited to the Paleozoic sequence. Possible source rock are present in the Silurian series with the main risk being overmature. There are no proven reservoirs. Potential reservoirs are present in clastic sequences of Cambrian-Ordovician and Devonian ages.   According to Simba Energy, highlights of the potential of the Bove Basin include the presence of oil seeps, large accumulations of bio-degraded heavy oil at surface, along with light oil staining in historical core and samples. A detailed laboratory analysis of samples from two wells carried out in 1989 by Beicip (France) reportedly indicated a level of maturity as mature to over mature and a source that is likely oil prone. Simba Energy states that the Bove Basin has three possible reservoir systems with fair to good reservoir parameters in both clastic sediments and carbonates.  Texas Geophysical Company carried out a gravity and magnetometer survey over the entire basin in 1972. Results of the survey suggest that sediments are present up to a depth of 4,000m and numerous anomalies were identified.  In addition to the Bove Basin which is the largest, there are four other onshore basins in Guinea: Youkounkoun, Komba, Kolente and Madina-Kouta. They are believed to be Paleozoic intra-cratonic basins like the Bove Basin but they are located more inland and are even less explored.
In late January 2020 industry sources indicated that the Guinea authorities are currently working on delimiting 14 new exploration acreage blocks onshore. The block limits will be finalized using an aeromagnetic survey. 