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Msg  129845 of 129852  at  1/8/2020 3:49:26 AM  by


ECO/CGX - Offshore Guyana...

Some recent drilling results from offshore Guyana, and just over the border in Suriname (Repsol's Carapa well, and Apache's Maka well, respectively), I believe have significantly increased the prospective value for both ECO's and CGX's acreage.
Maka, which looks like it may be a major discovery, is perhaps more relevant for CGX, being very close to the edge of their Corentyne block, where they recently did a 3-D survey. 
Carapa, which was drilled into a Cretaceous prospect on an adjacent block to ECO, may not look too significant in it's own right, with a low net oil pay found. However, the oil was of a much better quality than that found in ECO's previous Tertiary discoveries.
I think this is mainly what ECO was looking for out of these results, showing that the better quality oil migrated in closer to shore, and thereby significantly derisking the Cretaceous prospects on it's own block.
Tullow is scheduled to give an update next week. It may be a bit too soon to hear anything definitive, but hopefully they'll at least give some indication of their thoughts going forward on the Guyana exploration program.
just my opinion 

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Msg # Subject Author Recs Date Posted
129846 Re: ECO/CGX - Offshore Guyana... bullhonky 0 1/10/2020 5:21:56 AM

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