RE: 1 TCF Gas8 Feb 2024 09:36
Rustavi and Teleti Fields
The IER was commissioned to review Block's evaluation of the Patardzueli-Samgori Lower Eocene and Upper Cretaceous reservoirs, the primary target for the initial Project III appraisal and development campaign, including the proposed early production facilities associated with the first phase of the development.
In addition, the Company has identified substantial proven gas resources in the same reservoir sequences in the Rustavi and Teleti fields, opening the prospect of material developments beyond Patardzueli-Samgori.
Block is currently reviewing the internal contingent resource estimates for these fields, employing the same methodologies as used by OPC in the Patardzueli-Samgori IER. Revised estimates will be announced in due course.
I would think we could have maybe upto another TCF of gas in these fields?? Also with the oil across our licences we should be looking at a comfortable $1 billion in NAV . Time for the big boys to make some attractive offers!