Mundo NuevoThe Mundo Nuevo block is located 42km southwest of the city of Villahermosa, Tabasco with an areal extent of 27.7 km2 (6,845 acres). The Mundo Nuevo field, a middle Cretaceous fractured carbonate reservoir, was discovered in 1977. This field was developed by PEMEX, Mexicos state owned oil and gas company, through the drilling of 14 wells, reaching peak production of over 15,000 barrels per day (bbls/day) of natural gas liquids, in the early 1980s. This fields average production for Q2 2017 was approximately 190 bbls/day of light oil and 3.87 MMcf/d of natural gas with an average reservoir depth of 3,580 meters. With the advantage of 3D seismic data, acquired since the original wells were drilled, Renaissance has identified numerous potential new development well locations. In order to satisfy the minimum work commitment for Mundo Nuevo, the Company is required to drill one development well. According to information publicly released by CNH, during the auction process, and as of yet unconfirmed by the Companys own qualified reserves evaluators in accordance to COGEH and NI 51-101, the Mundo Nuevo field was estimated to have contained original volumes in place of 86 million bbls of natural gas liquids and has had cumulative production of 35 million bbls of natural gas liquids, as at January 1, 2015.