Onshore Côte d'Ivoire · CI-520, CI-521, CI-522
Three onshore blocks. Thirteen prospects. Drilling planned for 2027.
Blocks CI-520, CI-521, and CI-522 cover a large onshore license area of 883,812 acres (1,381 sq mi / 3,576.66 km²). Elephant Oil is picking drilling locations and preparing to drill.
The blocks
A large, operated onshore position
- Portfolio of 13 prospects already identified
- 2 independent source-reservoir-seal sequences
- PETROCI Holding holds a 10% interest and has the right to back in for an additional 10%
- Elephant Oil is picking drilling locations and preparing to drill
| Licence | Interest | Partner |
|---|---|---|
| Block CI-520 | 90% | PETROCI Holding |
| Block CI-521 | 90% | PETROCI Holding |
| Block CI-522 | 90% | PETROCI Holding |
Côte d'Ivoire opportunity
Among the highest-rated sovereigns in Sub-Saharan Africa
The Republic of Côte d'Ivoire gained independence from France in 1960.
Sovereign rating
- Moody's Ba2 (2024)
- S&P and Fitch BB- stable
Vital access
- 50 miles by road from Abidjan port to the first well site
- 90 minutes drive from Abidjan to Berou
- Accessible by local roadways
- Large shipping port
Strong industry
- Existing producing country
- Skilled workforce
- Services and Infrastructure
Portfolio of opportunities
Thirteen prospects based on 2D seismic and FTG data
| Licence | Prospect | P90 MMboe | Pmean MMboe | P10 MMboe |
|---|---|---|---|---|
| CI-520 | Cichlide - Synrift | 8 | 56 | 142 |
| CI-520 | Cichlide - U Albian | 8 | 76 | 198 |
| CI-520 | Berou - Synrift | 30 | 168 | 400 |
| CI-520 | Berou - U Albian | 19 | 121 | 292 |
| CI-520 | Moony East - Synrift | 13 | 69 | 163 |
| CI-520 | Moony East - U Albian | 14 | 84 | 200 |
| CI-520 | Moony - Synrift | 6 | 80 | 215 |
| CI-520 | Moony - U Albian | 5 | 60 | 162 |
| CI-521 | Brochet - U Albian | 11 | 60 | 142 |
| CI-522 | Eboinda A - U Albian | 7 | 37 | 89 |
| CI-522 | Eboinda B - U Albian | 8 | 22 | 52 |
| CI-522 | Eboinda C - U Albian | 9 | 58 | 140 |
| CI-522 | Eboinda D - U Albian | 8 | 43 | 100 |
| Sum Mean | 934 |
All volumes gross recoverable, unrisked. Internal estimates. Prospective resources, gross and unrisked. No chance of discovery has been applied; the volumes shown are not risk-adjusted and should not be read as expected outcomes. An independent Competent Person's Report is in preparation. Percentile columns are not aggregated; arithmetic addition of P90 and P10 across independent prospects is not statistically valid.
Activities & work programme
Path to first spud
01
Now to Admission
Sep 2026 – Jan 2027
- Competent Person's Report — independent resource assessment
- Seismic reprocessing and prospect ranking across 13 leads
- EIA submission and Certificat de Conformité Environnementale
- Management Committee resolution and AFE approval with PETROCI
- Authorisation to Drill (ATD) application to the Direction des Hydrocarbures
- Bidding on civils
02
Admission to Spud
Feb 2027 – May 2027
- Rig contract execution and long-lead procurement
- Civils — access road and wellsite pad construction
- Rig mobilisation, Abidjan → wellsite
- Pre-spud rig inspection and IWCF/IADC crew certification
- Well control contingency plan and emergency response plan
03
Drilling
Jun 2027 – Jan 2028
- Bérou North No. 1 — CI-521, vertical exploration to 2,000 m TVD
- 50 rig days: 7 MIRU · 30 drilling · 8 logging and testing · 3 DODU
- Openhole wireline suite and cement evaluation; DST on success
- Rig move to Eboinda — CI-522, Upper Albian target
- Eboinda No. 1 — spud
- Suspension for re-entry, or P&A and wellsite restoration
The EIA is the long pole. All four Côte d'Ivoire approval workstreams start the day after the Management Committee resolution and run in parallel — but the environmental permit governs the date the rig can turn to the right.
Growth opportunity
Beyond Côte d'Ivoire
Elephant Oil CI intends to expand further in Africa, beyond its existing portfolio of 13 prospects across three licences in Côte d'Ivoire, to build a balanced portfolio of assets across the full cycle — exploration, appraisal, development and production.
A balanced portfolio
Côte d'Ivoire gives the Company high-impact, operated exploration. The objective is to set that alongside appraisal, development and production interests, so that near-term cash flow and long-term upside sit in the same vehicle.
A team with African reach
The management team has extensive operating and transaction experience across the continent, and is the Company's principal source of deal flow. Further assets are already under review.
Room for partners
Openings exist at both levels — farm-in at asset level to share cost and add capability, and financing at corporate level to fund the wider portfolio.
Expansion beyond Côte d'Ivoire is an objective of the Company: no further asset has been acquired, and no partner or financing arrangement has been agreed or committed.