In October 2017, Rift Energy Corp. was still looking at farming out up to 49% working interest in its onshore Block L19, prior to starting with drilling operations. The company has been farming out a stake at least since early 2015. Rift Energy applied for a validity extension period to its second exploration period that was due to expire in September 2017.    To date, over 21 leads including four drillable prospects (two gas and two oil) have been identified (see Background Information). Targets include shallow oil and deeper gas (Karoo Sandstone Formation). The company estimates that the top ten leads and prospects contain mean recoverable resources of 856 MMbbl of oil and 13Tcf of gas.    Rift Energy owns a 100% participating interests in the block. The tract covers approximately 9,000 sq km in the Lamu Basin and is adjacent to Block L17/L18 operated by Afren in southern Kenya.   Contact details    Tom Guidish - Vice President of Operations    Tel: +1.832.299.6692 ext 112    Email: tguidish@riftenergycorp.com    Background Information  Rift Energy Corp. signed its Production Sharing Contract (PSC) for Block L19 on 21 June 2012. This marked Rift Energyâs first entry in Kenya. The company is headquartered in Woodlands, Texas, but it is a privately held Canadian company focused on acquiring oil and gas projects in East and Central Africa.   The 6-year exploration schedule included an initial 2-year period, and two additional 2-year renewal periods. The initial period work commitments included a USD 250 K Aerial gravity and magnetic survey, as well as a 2D seismic survey. The PSC terms included an additional USD 20 million programme comprising 3D seismic acquisition or the drilling of an exploratory well in case of a first renewal period. Finally there is a commitment of USD 20 million exploratory well in case of a second optional renewal period.  The licence was partially relinquished (25%) in September 2014 and entered into the first renewal period.  Exploratory works in the licence    The acreage includes one exploration well, Ria Kalui 1, drilled by Mehta Exploration between July 1961 and December 1962. The well was plugged at a TD of 1,538 m. Tar staining and bitumen were found in cuttings (Permo-Triassic arkoses and pebble sandstones).  In early 2013, Rift Energy completed a 7,064 line-km aerial gravity and magnetic survey. In late 2013, the company completed a geochemical survey that included 640 geochemical sample points. The geochemical survey reportedly indicated the presence of hydrocarbons within the block. During 2014, Rift Energy completed a 724 line-km 2D seismic program, which was further integrated with the aerial gravity and magnetic data. All the data collected was integrated and allowed Rift to propose the existence of four drillable prospects: Saturn, Mercury, Mars and Jupiter.
Kenya Rift Energy Corp still seeking a partner in Block L19 prior to drilling operations