JULY-26-2012: REPSOL CONFERENCE CALL Repsol stated on the conference call today Jaguar results were 'encouraging' as light oil was encountered above the primary target.
In order to move forward with re-drilling Jaguar - Repsol stated they will need to first analyze the Jaguar-1 well information which is a process that is ongoing.
In response to a question rasied by one of the analysts - Repsol clarified they are involved in active discussions with Guyana on a way forward. Repsol also stated they are looking forward to getting back to re-drilling Jaguar.
So, we have now heard from both Tullow and Repsol - and they remain positive of the prospectivity here and remain committed. Await news on:
- Georgetown Extension;
- Updated Reserve Report;
- Possible JV (Georgetown, Corentyne; Annex; etc.);
- Final Costs on Jaguar;
- PRE exercise its JV option on Corentyne / Annex;