Frontera upbeat about Guyana offshore as big leads targeted for drilling

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Frontera Energy said on Thursday it is highly optimistic about newly detected drill prospects on the offshore block it shares with CGX Energy in Guyana and is eager to move ahead with drilling when analysis on a recently concluded survey is completed.

The processing of the new 3D seismic data over the northern portion of the Corentyne Block has identified two large potential channel complexes interpreted to contain numerous highly prospective leads.

The Corentyne block lies adjacent to Block 58 in Suriname where operator Apache Corporation so far made three discoveries.

“The mapped leads are currently undergoing further analysis in order to prioritize and rank the best prospect to be drilled first,” Frontera said.

On the Demerara Block, situated north of the Tullow-operated Orinduik Block and adjacent to the ExxonMobil-operated Stabroek Block, Frontera said re-processing of the existing seismic data set will begin this fall in order to mature leads and prospects for drilling.

“Operational activities in Guyana are still affected due to restrictions on travel for key personnel related to operational planning, especially into and out of Guyana,” the company said. “Constructive collaborative discussions with the regulatory authorities in Guyana regarding work commitments in that country, in light of these restrictions, have been ongoing.”

The company said it looks forward to continuing this discussion with the newly elected Government of Guyana which was sworn in just this week.

The current high-graded lead identified in the northern region of the Corentyne Block has been named Kawa, after the iconic Kawa Mountain which overlooks the village of Paramakatoi in the Pakaraima Mountains of Guyana. It is a Santonian level, stratigraphic trap interpreted to be analogous to the discoveries immediately to the east on Block 58 in Suriname.

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