Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Top 5 moments from Charlie Kirk’s memorial service...
Trump set to approve TikTok deal ensuring majority-American...
Harris is speaking. This time, she isn’t bending...
Hamas letter to Trump asks for 60-day ceasefire...
Trump must make UN funding conditional on real...
Democrats skip Charlie Kirk Arizona memorial after 58...
‘Due to overhelming support:’ Turning Point USA says...
Thune slams Democrats’ ‘cold-blooded partisan’ tactics as funding...
Macron stakes anti-Trump global role with Gaza initiative...
Trump assassination attempt suspect Ryan Routh questions first...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

3D Seismic Reprocessing Complete – Significantly Enhances Prospectivity

by admin September 2, 2024
September 2, 2024
3D Seismic Reprocessing Complete – Significantly Enhances Prospectivity

Condor Energy Ltd (ASX: CND) (Condor or the Company) has completed targeted reprocessing of legacy 3D seismic data on its 4,585km2 Tumbes Basin Technical Evaluation Agreement (TEA or block) offshore Peru.

Highlights

Reprocessing of a total of 1,000km2 of legacy 3D seismic data across three leading prospects completedData quality vastly improved, significantly enhancing oil and gas prospectivityResource estimation of main prospects underwayMore than 20 prospects and leads located outside of the reprocessing areas have been identified – prospect screening and ranking process commenced

The block contains over 3,800km2 of legacy 3D seismic data, with Condor reprocessing an aggregate of 1,000km2 covering the two high potential oil prospects (Raya and Bonito) and the Piedra Redonda gas field (Figure 1).

The contract for reprocessing was awarded to Advanced Geophysical Technology (“AGT”) of Houston who have now delivered final products including Pre-Stack Time Migration and Pre-Stack Depth Migration volumes as well as derivative products used for Quantitative Interpretation (“QI”) workflows. These workflows provide enhanced insights into the lithology of subsurface rocks and the fluids they may contain.

Condor is pleased with the results of the reprocessed volumes which have improved both the quality of the seismic image and the frequency content (Figure 2). These improvements greatly enhance the quality of seismic interpretation.

Significantly, the production of Pre-Stack Depth Migrated volumes offers a valuable tool which allows for more accurate structural imaging and enables interpreters to work in depth compared to the original data which had only been provided in Two Way Time (“TWT”).

Condor has commenced a review of the Raya and Bonito prospects and the Piedra Redonda discovered gas field using the new reprocessed seismic and is confident that the improved 3D seismic data will enable the formulation of Resource estimates.

The Company has also identified more than 20 additional prospects and leads which lie outside of the areas selected for reprocessing, with the objective of selecting the most prospective features through a final prospect screening and ranking process.

About the Tumbes Basin TEA

A Technical Evaluation Agreement (TEA) is an oil and gas contract that provides the holder with the exclusive right to negotiate a Licence Contract over the TEA area.

In August 2023 the Company, with its partner Jaguar Exploration, Inc. (Jaguar), entered into the 4,858km2 TEA offshore Peru with Perupetro. The TEA area covers almost all of the Peruvian offshore Tumbes Basin in shallow to moderate water depths of between 50m and 1,500m.

The under-explored block is surrounded by multiple historic and currently producing oil and gas fields and contains the undeveloped shallow water Piedra Redonda gas field which contains ‘Best Estimate’ Contingent Resources of 404 Bcf (100% gross) and ‘Best Estimate’ Prospective Resources of 2.2 Tcf# (gross unrisked) of natural gas.

Condor is 80% holder of the TEA, with Jaguar and its nominees holding the remaining 20%.

#Cautionary Statement: The estimated quantities of gas that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both a risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially recoverable hydrocarbons.

Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
Chariot Corporation Limited (ASX: CC9) – Trading Halt
next post
Beware of this Social Security scam by crooks trying to trick you

You may also like

Lode Gold Strengthens Board of Spin Co Gold...

March 8, 2025

Opawica Explorations Mobilizes Drill at its Bazooka Property...

February 18, 2025

Tech 5: Bitcoin’s Price Sets Five New Records,...

November 23, 2024

5 Best-performing Canadian Uranium Stocks of 2025

August 6, 2025

Edward Sterck: Platinum Price on the Move, Perfect...

June 3, 2025

Investing in Gold Royalty and Streaming Stocks

February 25, 2025

Rare Earths Market Update: H1 2024 in Review

August 6, 2024

Clinical trial data shows RAD 101 detects Brain...

February 10, 2025

Kipushi Zinc Mine Reopens in DRC After 31...

November 26, 2024

West High YieldResources Ltd. Welcomes Final EAO Decision...

August 21, 2025

Recent Posts

  • Top 5 moments from Charlie Kirk’s memorial service in Arizona
  • Trump set to approve TikTok deal ensuring majority-American investor control: White House
  • Harris is speaking. This time, she isn’t bending to Biden’s bullies
  • Hamas letter to Trump asks for 60-day ceasefire deal to release half of hostages, sources say
  • Trump must make UN funding conditional on real reforms, ex-diplomat urges

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (927)
    • Investing (3,032)
    • Politics (3,709)
    • Stock (4)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 Sightful Invest. All Rights Reserved.