RE: Summary of research and opinions for newbies (as at 15/11/20)15 Nov 2020 09:42
Next week is when this could really start to heat up -
The 3D survey will focus in the southern licences where we have these large folds, these prospects that are in the order of up to 70 km in length, with up to perhaps 1.5 km of vertical closure. What is important is that we were able to determine that these structures have full 4-way closure based on the formation of how these traps developed. Essentially you can picture this as an upside down bathtub up to 70 km long and that vertical closure is essentially the depth of the bathtub up to 1.5 km or more, and that is huge. That is the fill potential – it doesn’t mean it is going to be filled to that extent but it tells you that you have significant opportunity for large volumes to be filled provided enough hydrocarbons are generated. We know lots of hydrocarbons have been generated in the Cuban fold belt and we are essentially in the same geologic province as the oil that was sourced for Cuba and the oil that was sourced in the southern Gulf of Mexico, for those major fields that are in Mexico. Cantarell is a 35 billion barrel field, Golden Lane I think is about 10 billion. So all of these major fields in the southern Gulf of Mexico, within Mexico itself, are formed in the same types of geologic setting, the same age rocks and are being sourced by the same types of original source material that we have in our area. So all of these things are very exciting for us and I think show potential for positive results.
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