Canadian Overseas Petroleum’s (COPL) Mesurado-1 prospect in Liberia is set to be drilled in late 2016 or early 2017 by operator ExxonMobil, targeting multiple Santonian deepwater channel sands. Interest in block LB-13 has increased in recent months following ExxonMobil’s discovery of the prolific Liza oil field in the conjugate basin in Guyana. Mesurado-1 has been de-risked through the use of modern seismic techniques as well as the discovery of oil in offset wells. Mesurado-1’s pre-drill gross P50 unrisked resource is estimated at c 400mmbbl, hence success could prove to be game changing for COPL. COPL remains funded through US$120m of gross exploration costs by partner and operator ExxonMobil.
