Cameroon: Ntem
Location: Southern Douala Basin (Kribi-Campo Sub-basin)
Area: 2,319 km2
Sterling Equity: 100% (Operator)
The Ntem concession area is a deepwater block situated in the southern Douala/Rio Muni Basin and lies adjacent to the
northern maritime border of the Rio Muni province of Equatorial Guinea. Water depths range from 400m to 2,000m
across the block. During the first term of the concession over 2,100km of 2D and 1,500km2 of 3D seismic data were
acquired, along with the purchase of additional seismic and gravity data.
Sterling’s financial obligations and work programme for the Ntem concession area are currently suspended under the
force majeure provisions of the licence owing to an overlapping maritime border claim between Cameroon and
Equatorial Guinea. However, both countries are actively working to resolve this issue and Sterling understands the border
dispute may be resolved soon.
This large block is undrilled and is well placed with respect to both Tertiary and Upper Cretaceous plays. Sterling is reevaluating
the area in the light of recent Tertiary discoveries made by Noble Energy to the north of the Ntem block. Many
large leads and prospects have been identified following a detailed interpretation of the extensive 2D and 3D seismic
database. Recent seismic attribute analysis and inversion studies reveal the presence of large and widespread submarine
fans with good exploration potential. Sterling estimates that four of the Cretaceous prospects mapped so far have
un¬risked prospective resources of several hundred million barrels each. Sterling intends to farmout an interest in this
licence.
