bought at 50c, page-24

Hi macrae12
Welcome aboard
Not sure where you are up to in regards to researching this one so i will give you a quick low down.
25th of March ERH announced to the market that 330 will be a production well with a estimated 3million barrels but it has a poor flow rate of only 60-100 barrels per day. There is a lot of speculation that the reserve will be increased by a far amount. Also waiting on ANP approval on this one. We are also expecting news on 330 soon

Now they have completed 430 and have confirmed oil over a 143m meter interval. We are currently waiting on the workover rig which is due in about 2 weeks. Once on site it will take 20 odd days to complete tests giving final reserves.

We also have a second target on block 430 which i believe will be drilled next. Again a lot of speculation that second site is bigger than the first site on 430.

Our partner in both 330 and 430 is Gavea and there parent company is UBX (not a lot of info on UBX but there management is mostly made up from ex Petrobrás employees. We have a 40% interest in these wells.

Then we are of to Reconcavo basin to drill 2 blocks in the last part of 3 quarter. This area has a estimated 350 million barrels still in the ground. Our partner in this one is Silver Marlin and we have a 50% interest.

The first site they are drilling is REC-T-59. If you are interested REC-T-49 is the block next door and W. Washington Petróleo S.A. have 52,50% BrazAlta Brasil Norte Comercialização de Petróleo Ltda. 47,50% of that block if you are looking to research it.

Then we are drilling REC-T-138. Our Neighbours are as follows
Block REC-T-126 is held by Petróleo Brasileiro S.A. 100,00%


Block REC-T-125 is held by W.Washington Empreendimentos e Participações Ltda. 52,50%
BrazAlta Brasil Norte Comercialização de Petróleo Ltda. 47,50%


Block REC-T-152 is held by Petrosynergy Ltda. 100,00%


Block REC-T-164 is held by Petrosynergy Ltda. 100,00%

Block REC-T-165 is held by Starfish Oil & Gas S.A. 70,00%
Norse Energy do Brasil Ltda. 30,00%

Hope this helps and good luck with it mate

cheers


Ciggys