2m acres Peru blocks XXI (Sechura Basin), Z34 (Talara Basin).
Gold Oil's block Z34 borders;
Petrobras block X - 13,021bopd + gas
Petrotech block Z2B - 14,749bopd + gas (est.reserves 400 MMbbl)
Sapet block VII - 3,025bopd + gas
(Aug 2006 figures)
Z34 is roughly the scale of all three blocks -
(click on blocks map) then click on Z34 area to enlarge.
XXI borders Olympic Peru's gas producing block XIII currently drilling for oil in the Palaeozoic reservoirs as goo are. This reservoir produces in block Z2B.
Producing 1000bopd in Colombia from 1 well Nancy. another 4 well workovers expected to commence in New Year on previously commercial fields Nancy Burdine Maxine- Putumayo Basin. Burdine Maxine produced 3000bopd when in Texaco's hands in addition Nancy flowed at 1400bopd. target for the fields 4000-5000bopd. further exploration upside.
mkt cap.£35m.(9p)
farm-in deals, exploration licenses in pipeline Colombia/Brazil.
need some luck but they have some interesting acreage. seeking to expand in other countries. med/long term investment.
