: 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 per field |
| 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.
A single large exploration lead, which the Company estimates may have contain unrisked prospective resources of over 10 million barrels, was identified from existing seismic data. A 55 kilometre 2D seismic data acquisition programme, conducted in 2007, matured the identified lead to the Jacinto drill-ready stratigraphic prospect.
The Jacinto No.1 exploration well was drilled to a total depth of 6,460 feet. Hydrocarbon shows and a well developed sand channel were encountered while drilling through the Carbonera formation but wire-line log evaluation indicated the sand channel to be water bearing. Following this result, the well was plugged and abandoned.
The remaining prospectivity in the block is being evaluated prior to making a decision as to whether to enter the next phase of the contract which, if entered, will have a duration of 12 months and a minimum work programme including one exploration well.
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