• PetroTal is acquiring Block 131 onshore Peru including the Los Angeles field from CEPSA for US$5 mm. The field produces ~900 boe/d from 4 existing wells and holds 4.9 mmbbl of 40-45 deg API oil 2P reserves.
• We estimate that 3 new wells (at ~US$12 mm per well) could increase production to 2-3 mbbl/d. There are also opportunities to develop bypassed oil with horizontal wells drilled high on the structure.
• The oil is currently sold at the Iquitos refinery and passes by the Bretana field (in b ....
09 May 2024
PetroTal Corp (AIM: PTAL): Acquisition in Peru – More than meets the eye
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PetroTal Corp (AIM: PTAL): Acquisition in Peru – More than meets the eye
• PetroTal is acquiring Block 131 onshore Peru including the Los Angeles field from CEPSA for US$5 mm. The field produces ~900 boe/d from 4 existing wells and holds 4.9 mmbbl of 40-45 deg API oil 2P reserves.
• We estimate that 3 new wells (at ~US$12 mm per well) could increase production to 2-3 mbbl/d. There are also opportunities to develop bypassed oil with horizontal wells drilled high on the structure.
• The oil is currently sold at the Iquitos refinery and passes by the Bretana field (in b ....