Frontera Energy Corp T.FEC

Map Clarification for Sporty or?

[kcac1]

Sporty,  Do you or anyone know if this is the map of the original 6200km+ of the Coretyne concession? I am thinking it is, since it is the same map we have seen for a couple of years.  If so, losing 5/6th of the concession would appear to cut out much of the prospective (gold) portions) of the retained Northern Coretyne Block. I thought they were to lose 25%?  Is anyone aware of a map showing the revised 993.9km with prospects retained by CGX/FEC?  This is very material information but if my "eye balling" 1/6 of the concession is correct, a Press Release would likely result in another big  $hit. 

"Minister of Natural Resources, Vickram Bharrat confirmed on Tuesday that CGX Energy experienced a deduction of 5,206.1 sq km from its Corentyne Block, leaving the company with a revised area of 993.9 sq km"

"Originally spanning 6,200 sq km, the remainder of the block has reverted to government control, a consequence of relinquishment clauses within the contract. The Corentyne Petroleum Agreement, received by CGX on November 27, 2012, was set to expire in 2022 but saw an extension after a notice of potential commercial interest was filed for the Kawa-1 discovery in December 2022."

[SheDrills]

The retained 994 sq km = 245,623 acres which is ~ the entire Northern Corentyne Appraisal area where all the high value prospects/discoveries are. This is equal to 49 US offshore leases. 

[kcac1]

Thanks so much for the time you spend on Guyana and sharing your expertise with us. I know you have a large stake in both companies and hope it soon pays off.  Can you clarify how far south on the map the 994 km runs? The map has a line across the northern part with an arrow pointing to it that says Northern Corentyne Area (3D).   Are you saying that the revised lease runs down

[SheDrills]

I believe the retained area is the same as the Northern Corentyne appraisal area where they ran extensive seismic.  I have emailed CGX Energy asking them to update their maps to reflect the changes.  I suggest you do the same.  One would think they would have done this already but clearly being proactive isn't Suresh's strength.

[SportyJ]

Kcac, I'd refer you to Cgx's presentation on their website dated March, 2023.  Almost every map there has the appraisal area clearly defined.  Slide 5 in particular separates the appraised N Corentyne area from the overall license area. It sets out the area in acres which when converted to sq km pretty much reconciles to the news of what's been relinquished and what's