Tesorillo: Did Someone Smell Gas ?9 Oct 2020 13:48
5 long years since the incompetent persons report did someone break wind ?
energy-pedia exploration
Spain: Prospex Oil and Gas announces update on Tesorillo Project, Spain
13 Jul 2018
Photo - see caption
AIM-listed Prospex Oil and Gas has provided an update on the ongoing work programme to test known gas bearing sandstone sequences at the Tesorillo Project in the Cadiz Province, southern Spain. Tesorillo covers 38,000ha in a proven hydrocarbon region and contains a known gas discovery, which a Competent Person's Report undertaken by Netherland Sewell and Associates ('NSAI') in 2015 estimated could hold gross unrisked Prospective Resources of 830 billion cubic feet of gas (Best Estimate), with upside in excess of 2 Tcf.
The operator at Tesorillo, Tarba Energia (previously called Schuepbach Energy Espania), has notified the Company that the relevant contracts to carry out a passive Audio-Magnetotellurics ('AMT') survey on the licence area have now been awarded to GeoProSys and GeoGnosia, two leading European AMT expert contractors. With all preparatory work nearing completion and mobilisation ongoing, the Tesorillo 2018 AMT survey is due to commence in the near-term, as soon as access to the land can be gained once this year's exceptionally late harvesting season in Southern Spain ends. In addition to historic seismic survey data, the AMT survey will help evaluate the subsurface geology of the permit area and test for resistivity as a further indication of the presence of hydrocarbons. It is expected that after AMT data acquisition is completed, subsequent processing and interpretation phases will follow, with final results expected late 2018.
In tandem with the AMT survey, structural fieldwork mapping and analysis will be shortly initiated with the support of the University of Granada. This applied geoscience analysis will be complementary to the subsurface knowledge gained via the AMT survey. In addition, technical discussions with potential drilling and completion contractors are at an advanced stage as part of the ongoing well permitting and approvals process initiated at Ministry level.
Following receipt of the required approvals and support from the local authorities, an environment impact assessment (EIA) has been commissioned. As part of this process, relevant surveys over the Tesorillo permit are currently being carried out by a well-recognised environment consultancy group from Seville.
As announced on 19 December 2017, Prospex currently holds a 2.5% interest in Tesorillo and has the option to increase this to 49.9% based on the results of the current work programme, which includes the MT Survey and, subject to the results, a well to target the Almarchal-1 discovery.
Photo - see caption
Tesorillo, Ruedalabola Permits and Existing Pipelines
Prospex non-executive Chairman, Bill Smith, said:
'With an historic gas discovery, exposure to the European fore deep play, excellent access to infrastructure and l
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