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Tullow on Lookout for Farm in Partners

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    At least Namibia is not on list!!!!
    "From Upstream Online"

    Operator offers stakes in acreage off Mauritania, Jamaica and Suriname
    London-headquartered Tullow Oil is scouting the market for farm-in partners for prospective acreage it operates off Mauritania, Jamaica and Suriname.
    In Mauritania, Tullow has decided to dilute its 76.5% and 90% stakes in blocks C-10 and C-3, respectively, and is offering farm-in partners up to 40% interest in each asset.
    In C-10, Tullow has committed to drill a wildcat before November this year but has applied for a one-year extension to this initial exploration period.
    More than 28 leads and prospects have been pinpointed so far in this block holding total potential resources upwards of 9 billion barrels.
    C-10 surrounds Petronas Carigali’s producing Chinguetti oilfield, in which Tullow has a major stake.
    C-3 is less well understood and is due to enter a second exploration period this June, although Tullow has applied for a one-year extension.
    A variety of oil plays have been prognosed for the two blocks from shallow-water carbonates and clastics to deeper Cretaceous fairways.
    Tullow’s Jamaican portfolio covers its 100% stake in the 32,000 square kilometre Walton Morant licence off the island’s south coast.
    The operator aims to offload a 30% stake in return for funding a 2D seismic survey this year — covering a minimum 3650 kilometres — followed by a 3D seismic shoot of at least 2000 square kilometres.
    This seismic work has to be completed by about mid-2019 leading to a drill or drop decision.
    Only 11 wells have been drilled in the area and, despite poor placement due to lack of seismic control, 10 of them had hydrocarbon shows.
    To improve its understanding of this frontier play, Tullow has undertaken grass root evaluation of prospectivity, including high resolution bathymetry surveys, drop cores and gathering 2D seismic.
    Recent work has also revealed the presence of an active seep on the acreage, said a Tullow flyer, which improves confidence that a petroleum system exists, while a diverse array of traps have been identified.
    This seep has been typed to a marine source rock with the oil similar in its geochemical characteristics to oil stains and shows found onshore.
    Onshore field studies have established Middle Eocene shales with “excellent source potential”.
    Multiple play types and leads have been identified.
    The Suriname opportunity covers Block 47 where, based on 3000 square kilometres of 3D seismic data, Tullow has identified Upper Cretaceous prospects such as Goliathberg and Bemau.
    Each of these structures could contain 400 million barrels of oil in water depths of 1800 to 2000 metres.
    The asset is located in the Suriname-Guyana basin that also hosts ExxonMobil’s prolific Liza and Payara oil discoveries as well as the onshore Tambaredjo and Calcutta oilfields.
    An extension to the first exploration period expires this September, with the next 18-month period calling for one wildcat to be drilled.
    Tullow has 100% control of Block 47 and wants to offload up to 50% of its interest.
    A Tullow spokesman declined to comment on the status of any farm-out talks.
 
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