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Monday, November 26, 2012
HRT Participacoes em Petroleo has new a new resource volume report from DeGolyer & MacNaughton (D&M) for its Petroleum Exploration Licenses (PEL) offshore Namibia. The report covers PELs 22, 23, 24, and 28.
This study was performed using the excellent quality 3D seismic volumes that HRT acquired and processed during 2011 and 2012, allowing a significant improvement in the analysis of the volumes previously reported by D&M. The report increased to 7.4 billion barrels of oil equivalent (boe) the net risked Pmean potential resource volume in Namibia, being 5.1 billion barrels of crude oil and condensate (bbl), and 2.3 billion boe of associated and non-associated gas. These new volumes represent an increase of 0.5 billion boe to the portfolio of HRT reported in 2011, as well as an increase of 6.6% from the previously estimated volumes for the Namibian HRT PELs.
Thus, HRT will now have a potential volume of net risked Pmean prospective resources in Namibia and Solimões of 7.8 billion boe, in addition to the 3C net contingent resources in Solimões of 0.5 billion boe.
HRT is scheduled to start its drilling campaign of up to four exploration wells in Namibia in the 1Q13. The semi-submersible Transocean Marianas was chartered for a period of 280 days to carry on HRT´s drilling program. The wells will be drilled in world-class prospects that are located in water depths ranging from 180m to 1,800m.
The oil potential unrisked P(10) resources amount to 29.136 billion barrels. Figure 1 illustrates the Pmean unrisked gross prospective resource volumes for all HRT´s prospects, mapped in Namibia up to today, versus their chance of success.
“This new Report, performed by D&M, based on our new 3D seismic data, confirms HRT’s confidence in the oil and gas potential of our Namibian PELs. This is an important testimony that HRT is on the right track to achieve its objectives with the drilling campaign that is about to start in early 2013,” emphasized Marcio Rocha Mello, CEO of HRT.
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