The drilling, being done with Nordic Calista’s Rig 3, is expected to take 30 to 40 days and will intersect four zones that collectively have the potential to hold upwards of a billion barrels of recoverable oil, according to Pantheon leaders.
The facility agreement, to be finalised between Vast and the Bank, will be presented to the Bank’s credit committee for final approval in a meeting that is scheduled for 15 December 2020.