Zama7 Nov 2019 09:47
Excerpt from the Talos update
Block 7: Following the successful completion of the Zama appraisal program, Talos is working with Netherland, Sewell & Associates, Inc. to complete a formal resource report by year end 2019. The Company reiterates its previously stated resource guidance in the upper half of its pre-appraisal estimated range of 400 – 800 MMBoe gross recoverable resources. Talos has initiated early FEED work to allow for the earliest possible initial production date and is utilizing all of the appraisal data to create an optimal development plan for the field. Zama unitization discussions with Petróleos Mexicanos ("Pemex") are ongoing. As previously announced in September 2019, the Company was also recently granted a two-year contract term extension as well as regulatory approvals to allow for exploration activities on additional retained acreage in Block 7, which is separate and incremental to the Zama asset.