Approximately 200 metres of full well-bore core will be cut and extracted over the Caley and Baxter reservoirs.
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"The approval of the company's tender represents great progress for Tlou,” said Tony Gilby, managing director.
The surface casing section of the Ungani 6H well has been drilled and cemented to a depth of 945 metres.
The company has estimated a US$31 million per annum increase in revenue at current rare earth prices.
Oil prices were up 8% during April with an average monthly realised oil price of US$67.39.
It is the first appraisal well to follow last year’s discovery of the world-class Dorado oil and gas field.
Selva onshore gasfield is a company focus and has 13.3 billion cubic feet of reserves.
The initial Ungani 6 drilling operations with the NGD 405 rig are expected to take some 20 days.
The 2019 program encompasses construction of a pipeline and installation of initial production facilities on a multi-well pad as well as drilling of two new Wizard Lake wells.
At March 31, 2019, the company had an interest in 14 successful producing horizontal oil and gas wells across core areas of the STACK and SCOOP plays in the Anadarko Basin.
The strategy is focused on four assets – the onshore gas development at Selva, offshore Adriatic gas development at Teodorico, large-scale gas condensate exploration licence at Torro del Moro and the expanded Ravizza and Bagnolo oil reservoirs.
The Dorado project joint venture is preparing to drill the 17-1/2 inch hole section of the Dorado-2 appraisal well.
The project development team continues to pursue Compressed Natural Gas (CNG) projects in four types – marine transportation service, stranded gas fields, oil fields and remote small-scale power generation.
The oil and gas company is focused on its portfolio of offshore assets in northwest Africa.
The company has a portfolio of diversified high-value resource royalties around the world.
Oil producer Bass hopes to hit a production milestone and add onshore assets.
Dorado-2 well is the first appraisal of the Dorado discovery made in 2018, which is one of the largest oil resources ever found on the North West Shelf.
A positive investment decision on the oil project offshore Senegal later this year could lead to first oil by 2022.
The rig up, crew mobilisation and rig acceptance is on track for spud in the first week in May.
Gross unrisked mean prospective resources of 3.14 TCF of recoverable gas have been independently estimated, with an associated 42 million barrels of condensate.
The operator of the oil and gas development is Devon Energy Corp. (NYSE:DVN).
Crude oil touched a new 5-month high on Monday as the violent clashes in Libya continue, adding to supply fears.
At the end of the quarter, the company held a strong cash balance of $93.3 million following the $50 million capital raise to fund appraisal and exploration activities.
The Optimum ship comes after two decades of CNG development and aims to maximise the CNG that can be stored in a ship’s hull.
Lesedi is one of two projects Tlou has in Botswana and comprises five CBM prospecting licences