Unlocking the onshore potential of Côte d'Ivoire
Elephant Oil CI Ltd is a UK energy company with assets in Côte d'Ivoire, led by an experienced management team and board with a record of exploration, discovery and commercialisation of oil and gas in Africa.
Strategy
Large onshore targets, already substantially de-risked
Extensive 2D seismic and FTG coverage, documented oil seeps, a proven regional petroleum system and offset well control. A stable jurisdiction with a developed petroleum industry, at a fraction of offshore drilling cost and with high reward potential.
3,577km²
Onshore licence area
13
Prospects already identified
90%
Participating interest
$40m+
Historic spend on 2D seismic and FTG
Drilling planned for 2027
The prospect inventory and the first wells
- Multi-billion barrel potential — 2.8 billion barrels of oil in place, internal estimate
- Over $40 million of historic exploration spend on 2D seismic and Full Tensor Gravity
- Active oil seeps at surface
- Low well cost — target depths of 1,000 m to 4,000 m
Regional context
World class exploration success
Côte d'Ivoire hosts Baleine — Wood Mackenzie's Discovery of the Year for 2021 and the largest discovery ever made in the country (2.5 billion barrels oil, 3.3 tcf gas) — followed by Calao in 2024, the country's second-largest at 1–1.5 billion boe in place.
~4.5 Bboe
Oil equivalent in place
Baleine: 3.07B BOE, Calao complex: up to ~1.4B BOE in place (Eni, Feb 2026)
5.0 tcf
Calao South (Feb 2026)
Up to 5.0 tcf gas + 450 million bbl condensate — confirming the Calao complex as Côte d'Ivoire's second-largest after Baleine (Eni).
~455 MMbbl
Jubilee (Ghana)
~455 million barrels remaining recoverable (2016)
In-place volumes, not recoverable; the two Calao announcements are not additive. Onshore figures are internal estimates; offshore figures per Eni. Elephant Oil CI Ltd holds a 90% participating interest; PETROCI Holding holds 10% and may back in for a further 10%, which if exercised would reduce Elephant Oil's interest to 80%.
Community
A good member of the community
Elephant Oil actively engages with the local community and partners — building schools, donating supplies and equipment, and employing locally.