Cuisinier – Barta Permit PL 303 Highlights:
- Barta Permit (part of ATP 752) is situated near the established, oil producing Cook Oil Field and connected through pipelines
- Oil produced from the pool is ultra-light, 52° API; commands a premium to Brent benchmark pricing
- Barta Permit approx. 2.7 MMbbls production to date with 2P oil in place of 101 MMbbls
- Strong pricing leads to attractive operating netbacks in Cuisinier (as per historical results) and coupled with rising production potential, provides opportunity to grow cash flows
- Continued reserves growth anticipated as drilling continues
Click on the image at the right to view the Cuisinier map in greater detail
Other Barta opportunities – STRONG PROSPECT INVENTORY
- Barta West – similar to Cuisinier with good oil show
- Barta permit approx. 2.7 MMbbls production to date with 2P oil in place of 101 MMbbls(1) and expected to increase substantially
- 52 degree API oil with oil price at significant premium to Brent
- 5 well drill campaign 100% successful, including exploration discovery at Shefu
- 2P area increased by approximately 20% .
- Shefu-1 exploration success has de-risked an area of over 950 acres immediately offsetting the well.
- Established oil column now greater than 51 meters.
- 28 wells drilled to date – 27 oil (approx. 160 acre spacing)
- JV now reviewing options for a water injection pilot
- BNG management view:
- 21,000 acres of Murta closure within permit.
- Barta West 3D acquisition and interpretation complete.
- First exploration well (Chookola -1) to be drilled August/September 2018
- (1)“Million Barrels” or “MMbbls” is a volume measurement used by the oil and gas industry. A million barrels is a volume measurement of oil.