RE: .36p27 Apr 2021 19:46
Taken from the RNS on April 23rd:
o Saffron # 2 appraisal / production well to be drilled in May / June 2021, budgeted cost $3m million, expected production in the range of 200 - 300 bopd generating cashflows of US$1.8 - US$2.6 million per annum, and paving the way for a full-field development projected to achieve in an initial phase average daily production of 1,000 - 1,500 bopd / generate annualised cashflows of US$8 - US$12 million; and longer-term an overall field development could ultimately comprise up to 30 wells in total, with a peak projected production of approximately 4,000 bopd;
o Appraisal well and extended well test at Weg Naar Zee in Suriname planned to be drilled in July 2021, budgeted cost US$0.7 million capital expenditure, and paving the way for an initial field development projected to produce c.100 bopd / generate annualised cashflows of US$1m per annum; and longer-term with a full WNZ field development scenario projected to generate annual cash flows for the Company in excess of US$2.5 million