RoyalGate Energy, an Africa-focused independent oil company with assets in Equatorial Guinea and Ghana, has revealed that it is  planning to drill the Z-1 well in Block Z located in Guinea, in Q1 of 2016.

The drilling program is planned to target the Tulip Upper Isongo and Tulip Massive Isongo zones. EnergyBusiness Review reports

The company expects the Block Z, which is located to the north of Bioko Island and south of the Marathon Oil-operated Alba field, to hold gas reserves of more than 3.6 tcf.

According to a 600km² 3D seismic campaign completed in 2014, the company identified the Tulip, Daisy, Buttercup and Sunflower prospects, as well as also comprising of the Gardenia discovery, which was identified in 2004.

"This is the continuation of what we see as a long term partnership with Equatorial Guinea and we see a lot of development potential for Block Z.’ RoyalGate Energy president Frank Ene said. "We are bullish about the prospectivity of this block and our other assets in Equatorial Guinea."

The company added that the Z-1 well is planned to be drilled close to the location of previous offset wells, which provided initial geological and geophysical data.

RoyalGate Energy, signed production sharing agreements with the Ministry of Mines, Industry and Energy for Block Y and Block Z in April 2013. The company, in partnership with GEPetrol, is embarking on an exploration program on the two blocks.