GH: GUYANA SHELF UPPER CRETACEOUS DE-RISKED A pretty good update from Eco-Atlantic (Gil Holzman) earlier today - link below. It would seem the Orinduik Partnership will look to drill 2 (two) upper cretaceous targets in 2020 - targeting thick reservoirs that are expected to contain light sweet oil.
Would expect one of the upper cretaceous prospects to be Rappu - which extends into the Demarara license. Rappu is expected to hold anywhere between 250mmbbl to 920mmbbl of prospective light sweet oil (base case is 535mmbl) and expected to have thick reservoirs.
Rappu target depth 3,650m below the mudline - should be a fairly inexpensive drill. Also note, Rappu is the upper cretaceouse prospect that lies underneath the Joe discovery.
Have to wait for Orinduik CPR - but, would imagine all upper cretaceous prospects have been significantly de-risked given Carapa results / Gil Holzman commentary in the following podcast:
https://www.voxmarkets.co.uk/articles/eco-atlantic-oil-gas-plus-russ-mould-on-market-expectations-for-2020-14aa5bf/ Would expect CGX/Frontera to perhaps follow suit in prioritizing an upper cretaceous stratigraphic play containing thick reservoir sequence. The actual number of upper cretaceous prospects, size, and locations will shortly be revealed in CGX's resource report.
After listening to podcast - would expect positive news out of CGX / Frontera over the near term (i.e. JV partnership, buyout, etc).