GCIEytan Uliel of Challenger Energy: Assessment of Uruguayan block shows prospect inventory of 1 to 2 billion barrels
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Eytan Uliel CEO of discusses their technical assessment of the AREA OFF-1 block, offshore Uruguay which revealed an initial prospect inventory of 1 to 2 billion barrels, as defined from CEG's 2D seismic reprocessing work.
HIGHLIGHTS
• An initial prospect inventory of 1 to 2 billion barrels has been defined from CEG's 2D seismic reprocessing work
• Three sizeable prospects have thus far been identified, derived from a range of play types consistent with those de-risked by recent successful conjugate margin drilling in Namibia by TotalEnergies and Shell
• Prospects are seismically-derived, and supported / further de-risked by Amplitude Variation with Offset ("AVO") analysis
• Play robustness is corroborated by geochemical sampling and satellite seep analysis
• Conjugate margin success, competitive recent licensing rounds in Uruguay, and technical uplift from CEG's 2023 work will drive farm-out process, soon to be initiated
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