South West Peninsula (SWP) Exploration

Summary Information

Asset Bonasse, Icacos and Cedros
Location Onshore, South-west Trinidad
Ownership 100%
Operator Challenger Energy
Stage Exploration
Asset Type Licence
Recoverable Resource* 230 MMbbl P50 mean estimate*
Fiscal Regime Royalty
Tenure Bonasse expiry May 2039
Cedros expiry December 2039
Icacos pending formal Licence grant

 

* Best Estimate Prospective Resources

Asset Description

  • 3 licences (Bonasse, Cedros and Icacos) providing contiguous acreage
  • Shallow oil production demonstrates working petroleum systems; several leads / prospects identified
  • On-trend structures offshore have yielded major fields within 12km of the South West Peninsula (SWP) of Trinidad

 

Technical Highlights

  • Extension of Eastern Venezuela basin
  • Substantial geological data
    • 53 historical wells;
    • Airborne Gravity, Gradiometric and Magnetic survey
    • 160km2 3D seismic; 1,000 line km 2D
  • Current portfolio has leads / prospects with aggregate estimated Mean Unrisked resources of circa. 230 MMbbl; detailed evaluation and G&G studies to be undertaken post reprocessing of 3D seismic
  • Specifically up to 9 Saffron lookalike prospects established; to be high-graded from reprocessed 3D seismic
  • Deeper Herrera reservoir offers considerable additional prospectivity to be more fully assessed on reprocessing of 3D seismic

Near-Term Milestones

  • Progress detailed technical review and reprocess 3D seismic data to identify potential targets for drilling in 2021/2022
  • Prepare for exploration activity targeting potential Saffron-like discoveries

Share Price

27/11/2021

0.65

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