Will Maka-1 well escalate the Prospective Resources? The big release we are waiting for is of cause the list of prospects with prospective resources that will be made after the new 3D is processed. We have no date, just that it will be done in the first half of 2020. The impact of the oil find at Maka-1 could be significant for the new list of prospects. Maka-1 is located just a few kilometers from our Corentyne block and they found 3 oil pays with light oil, 50 meters + 73 meters + a third interval that still has to be checked, CGX could be sitting on a multi billion barrel list of prospects and that just in the northern part of Corentyne, between Pluma Haimara and Maka.
If they identify lets say 2-3 billion barrels here we could only imagine the rally into the drilling. CGX with 66% and Frontera as a stable main shareholder. Farm out is possible but I think they will do that right after they present the 3D and prospects.
Maka-1
>> the well encountered net pay in multiple stacked reservoirs in Upper Cretaceous Campanian and Santonian formations.>>
>>The well also targeted a third interval, the Turonian, a geologic analogue to oil discoveries offshore West Africa. Prior to reaching the interval, the well encountered significantly over-pressured, oil-bearing reservoirs in the lower Santonian, and the decision was made to conclude drilling at 6,300 m. The pressures encountered in the lower Santonian are a positive sign for the Turonian and future drilling will test the interval, Apache said in a press statement.>>