Loving this bit of RNS last year5 Mar 2018 15:31
Tesorillo: multiple development/appraisal gas plays with company-making potential
� Comprised of two petroleum exploration licences, the Tesorillo and Ruedalabola Permits, covering 38,000ha in a proven hydrocarbon region in the Cadiz Province of southern Spain
� Tesorillo contains the Almarchal-1 discovery well ('Almarchal' or 'the Well'), which was drilled in 1956 by Spanish operator Valdebro
o The Well intersected a thick section of possible gas pay including some zones which flowed gas to surface on testing
o Located on a gravity and seismically delineated thrust ramp anticline, with closure area exceeding 70 km2 and multi-Tcf potential
o Drillstem tests and log analysis confirm 48m of gas pay from two Miocene Aljibe Formation sandstone intervals, with a further 492m of potential gas pay interpreted from logs but unconfirmed by testing
� Ruedalabola contains 1957 Puerto de Ojen-1 well, 15km to the east of Almarchal which displayed similar gas shows to Almarchal but could not be tested for mechanical reasons
� Large Resource: unrisked prospective resource of 830 Bcf (Best Estimate), with upside in excess of 2 Tcf independently certified by NSAI in May 2015 (see table below for further details)
� Excellent access to infrastructure: Project located 3.9 km from the North African Maghreb gas pipe line European landing point providing access to high priced European gas markets