2ST1 and 3ST1 test results11 Nov 2024 07:14
The Cascadura-2ST1 well test results are similar to those of Cascadura-1ST1, and the well is located at the boundary of our reserves booking. The Cascadura-3ST1 well test results are exceptionally promising, as they unlock a new oil and natural gas play on the eastern side of Fault C, extending into the recently acquired Rio Claro block. On a per barrel equivalent basis, oil currently generates nearly five times the revenue of natural gas, and with a 12.5 percent royalty on the block and anticipated operating expenses below our corporate average, the play offers strong cash flow generating capabilities.