Argentina –Province of Salta

Two major concessions in Northern Argentina


A. Chirete Concession:

  • Oil discovery in Dec 2018.
  • Extended well tests, crude oil flowed at max. rate of 2500 BOPD*;
  • Prospective Resources of up to 8.6 MMBOE**

B. T&M Concessions:

  • Unrisked Gross Prospective Resources (P50): 187.7 MMBOE

The Northwest Basin is one of the largest gas producing basins in Argentina. This basin is geologically and structurally complex because of the superposition of four main basins and tectonic influences, including a Late Jurassic to Early Cretaceous-aged rift extension and Tertiary-aged Andean compression. The Group is of the view that the complex geological structures create opportunities for the discovery of conventional light oil and natural gas during exploration activities.

As at 31 December 2018, the Group held the following concessions in the Northwest Basin situated in Northern Argentina:

Concessions Participating interest Surface area (in km2) Prospective Resources as at 31 December 2018
Category Gross (100%) Oil (in MMBBL) Gas (in BCF)
Tartagal Oriental and Morillo 69.25% 10,583 Low Estimate 75.5 75.5
Best Estimate 187.7 187.7
High Estimate 459.8 459.8
Chirete**** 50.00% 897 Low Estimate 2.2 -
Best Estimate 8.6 -
High Estimate 25.2 -

** MMBOE: Million barrels of oil equivalent

*** Netherland, Sewell & Associates, Inc. (NSAI) – World renounced oil & gas consulting firm based in Dallas, TX, USA

**** Resources estimate based on NSAI report dated 2018 01 01


North American – Alaska – North Slope

NordAq

  • Owns a total of 4 concessions in the North Slope area.