: JACARANDA E&P CONTRACT
| Working interest : |
100% |
| Location : |
Llanos Basin |
| Area : |
235 sq.km |
| Contract period : |
Contract awarded in March 2007, exploration period of up to six years, initial production period of up to 24 years |
| Operator : |
Emerald Energy |
The Jacaranda Contract is located in foreland of the Llanos Basin, in Colombia, 130 km to the southwest of the Company’s Campo Rico operations.
The first phase of the exploration period is 12 months and the minimum work programme comprises the acquisition of 40 km of new 2D seismic data, seismic attribute processing of 25 km, and the re-processing of 25 km of existing 2D seismic data. If Emerald elects to enter the second phase, the minimum work programme includes the drilling of 1 well to an estimated depth of 6,000 ft.
Emerald identified a material lead, from existing seismic data, with an unrisked prospective resource potential estimated to be over 10 million barrels. The large channel feature is supported by a seismic bright spot at a depth of less than 6,000ft. A 55 km 2D seismic programme has been acquired in 2007 with the aim of maturing the lead to a drill-ready status.
The Jacaranda Contract has been awarded by the ANH, the National Hydrocarbon Agency of Colombia, and a copy of the model contract terms can be found on the ANH website (www.anh.gov.co).
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