RE: Orinduik24 Apr 2026 00:27
RECAP continued:
13 November 2019 - Update on initial analysis of Jethro and Joe wells - The Jethro-1 well discovered 55 metres of net pay in high-quality sandstone reservoir in the Lower Tertiary…….the reservoirs were considered to be high quality sands with good permeability.
Fluid samples were taken in both of the wells and were sent for analysis by the Operator. The complete fluid analysis has not yet been received however, initial results suggest that the samples recovered to date from Jethro-1 and Joe-1 are mobile heavy crudes, not dissimilar to the commercial heavy crudes in the North Sea, Gulf of Mexico, the Campos Basin in Brazil, Venezuela and Angola, with high sulphur content.
The partners have sought third party consultant with heavy oil development expertise to answer our technical queries and provide an initial assessment of several potential development drilling and production scenarios. The Jethro-1 discovery has the advantage of 8,500 PSI reservoir (2,600 PSI Overpressure), which increases drive efficiency; high reservoir temperature of 94 degrees Celsius; and an estimated flowing well head temperature of 90 degrees, which both increases oil mobility and provides an advantage at the floating production facility. The Company remains optimistic in considering the development scenarios and as the project progresses will define further information on plans and timing.
26 February 2020 RNS - Corporate and Operational Update - Fluid samples were taken in both of the wells and were sent for analysis by the Operator. Results of that testing confirm that the samples recovered to date from Jethro-1 and Joe-1 are mobile heavy crudes with high sulphur content. Oil tested to date appears not dissimilar to the commercial heavy crudes currently in production in the North Sea, Gulf of Mexico, the Campos Basin in Brazil, Venezuela and Angola.
10 August 2023 RNS - Acquisition of additional 60% Operated Interest in Orinduik Block Guyana from Tullow Oil. Transaction summary:
US$700,000 cash payment upon transfer.
Contingent consideration payable to TOHBV is linked to the success of a series of potential future milestones, as follows: US$4 million in the event of a commercial discovery; US$10 million payment upon the issuance of a production licence from the Government of Guyana; and Royalty payments on future production - 1.75% of the 60% Participating Interest entitlement revenue net of capital expenditure and lifting costs.
22 January 2024 RNS - Guyana Operational Update - Further, Eco advised MNR last week that TOQAP Guyana B.V (the SPV joint entity held by TotalEnergies and QatarEnergy 60:40) has relinquished their 25% WI for strategic reasons and will not participate in the next phase, the former TOQAP Guyana B.V 25% WI will be assigned to Eco Guyana.
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