Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Former FBI Director Robert Mueller has Parkinson’s disease:...
Earthwise Advertising & Investor Awareness Campaign
Commencement of Henbury Field Program
RCM to Acquire Webbs Consol Silver Project from...
Basin Energy
Epstein estate to hand over ‘birthday book’ to...
Dyan Cannon denied White House entry after lying...
Israel eliminates Houthi prime minister in Yemen airstrike...
Sen. Bernie Sanders calls on RFK Jr. to...
Trump appointee exits US foreign aid agency after...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Amended Announcement – Piedra Redonda Gas Project Assessment

by admin October 17, 2024
October 17, 2024
Amended Announcement – Piedra Redonda Gas Project Assessment

Condor Energy Ltd. (ASX: CND) advises that it has updated the announcement released on 16 October 2024 (Piedra Redonda Gas Assessment Unlocks Development Options). The attached amended announcement now includes reference to the ASX market announcement released on 18 March 2024 titled “Global’s TEA area incorporates discovered gas field”. Condor Energy also confirms that it is not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Resource tables have also been included as referenced in the release dated 18 March 2024.

Condor Energy Ltd (ASX: CND) (Condor or the Company) is pleased to provide an update on the significant progress made on development planning activities for the Piedra Redonda Gas Project within the Tumbes Basin Technical Evaluation Agreement (TEA or block) offshore Peru.

Highlights

Technical review of the historical Piedra Redonda Gas Field completed with potential field development and monetisation options identifiedScalable development options include gas-to-power and delivery of compressed natural gas (CNG) for industrial and domestic useCompletion of Well Test Data evaluation provides confidence in deliverability estimates and allows for assessment of production profiles for associated development conceptsDiscovery well C-18X drilled in 1978 tested 8.2 million cubic feet per day on ½” choke from a limited 36 feet net pay interval out of estimated total 152 feet net pay intervalContingent resources of 404 Bcf (2C) associated with C-18X discovery area with further 2.2 Tcf (2U) low risk upside located updip Updated Independent Resource Estimate in progress following receipt of reprocessed 3D seismic data over Piedra Redonda Gas Field

Managing Director Serge Hayon commented:

“We are excited with the results of our initial review of Piedra Redonda gas field which contains an independent best estimate of 404 billion cubic feet (2C gross) with additional low-risk upside of 2.2 trillion cubic feet of gas (2U gross) within the Mancora Formation updip of C-18X discovery well.

“The C-18X well demonstrated strong gas flow rates from a limited 36 feet interval out of an estimated 152 feet total net pay in the Mancora Formation which underlines the significant well deliverability potential and supports multiple standalone development options.

“We will incorporate insights from our technical review and updated interpretation of the recently reprocessed 3D seismic data over the Piedra Redonda Gas Field to deliver an updated Independent Resource Assessment to support selection of future potential well locations and advance development planning.

“In light of the positive technical review we are commencing further commercial and feasibility studies for a conceptual gas-to-power project development plan to determine the optimal commercialisation pathway for the Piedra Redonda Gas Field.

Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
New Gold with Silver & Base Metals Results Highlight Potential Discoveries in Three Key Areas at Corvette River
next post
Israel’s UN ambassador: Response to Iran will be ‘very painful’

You may also like

Gold vs. Platinum: Which is the True Metal...

February 14, 2025

Cardiol Therapeutics to Webcast Virtual Annual General Meeting...

May 27, 2025

Top 10 Iron Ore-producing Countries (Updated 2024)

November 5, 2024

Crypto Market Recap: Trump Seeks Blockchain Integration in...

March 21, 2025

Skyharbour to Carry Out Multi-Phased, 2025 Drilling Campaign...

January 16, 2025

Crypto Market Recap: Bitcoin sees Record Price Drop,...

March 12, 2025

Keith Weiner: Key Gold Price Driver Has Changed...

October 25, 2024

AME: Supreme Court of Western Australia approves Scheme

November 29, 2024

Top 5 Canadian Mining Stocks This Week: Black...

November 9, 2024

Quimbaya Gold Appoints Ricardo Sierra as Vice-President of...

January 20, 2025

Recent Posts

  • Former FBI Director Robert Mueller has Parkinson’s disease: report
  • Earthwise Advertising & Investor Awareness Campaign
  • Commencement of Henbury Field Program
  • RCM to Acquire Webbs Consol Silver Project from Lode Res.
  • Basin Energy

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


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

    Categories

    • Business (902)
    • Investing (2,872)
    • Politics (3,525)
    • Stock (4)
    • About 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 © 2024 Sightful Invest. All Rights Reserved.