RE:From Cannacords 2012 research report on RPT2P reserves could easily double should the 3 exploratory wells be drilled.
This block offers development and exploration opportunities for years to come thanks to several known pool sizes ranging between 8 and 375MBOE in multiple hydrocarbon charged formations.
Faro Virgenes will be the main driver for cash flow growth and with $38 million dollars in hand, the company will be drilling a minimum of 6 natural gas wells (3 low risk development and 3 exploratory) by the end of 2012