Did you miss the boat on Guyana?😉 This may be a good opportunity. The risk-reward ratio looks pretty favorable.
Per the Energy Advisors Group:
- Gaffney, Cline & Associates have audited the drill-ready target prospect with mean resources of 400 MMbbls
- Standalone success on hitting the mean target is expected to achieve NPV10 of $2.5 billion at $60 oil
- The test well cost is estimated to be $30 million and provides exposure to own a material interest in the entire license
- The initial target is a carbonate platform and shows strong evidence of reservoir trap and intact seal, Cretaceous kitchen source and live oil seeps
- Recent advanced seismic relative dispersion technical work provides further evidence of reservoir porosity and permeability, the presence of a seal, and additional reservoir potential
- The License, formerly owned by Tullow, is well-supported by the Jamaican government with attractive fiscal terms
