Two junior oil companies are hunting for partners to drill frontier deep-water wildcats in contiguous blocks off Guinea-Bissau, whose sparsely-drilled waters lie in the eastern part of the exciting Mauritania-Senegambia-Guinea-Bissau-Conakry basin.
Trace Atlantic operates Block 5B and is offering to farm out 50% to 70% of its 58.5% stake in the production sharing contract in exchange for — at a minimum — funding one exploration well targeting the Albian-age Formosa prospect and its share of past costs.
