Silver Marlin independent oil company has begun its drilling campaign in Block REC-T-59, Recôncavo in the onshore basin. The Pioneer well 1SMAR4BA is being drilled by the drill rig Pioneira Brasil and should reach a total depth of 2,100 m. The Pioneer 1SMAR4BA well is being drilled by the drill rig and Pioneer Brazil should reach a total depth of 2.100 m.
REC-T-59 was acquired by the company in the 7th Bidding Round of the ANP, National Petroleum Agency, in 2005. REC-T-59 was acquired by the company in the 7th Round of the ANP Bidding, National Petroleum Agency, in 2005. Recently the company managed to acquire an extension of its exploratory deadline of the block for 120 days from the regulatory agency. Recently the company managed to acquire an exploratory extension of its deadline of the block is 120 days from the regulatory agency. The lack of credit on the market and the drop in the price of a barrel of oil motivated the request from the company. The lack of credit on the market and the drop in the price of a barrel of oil motivated the request from the company.
Silver Marlin also managed to obtain from the ANP the same prolongation of the exploratory deadlines for the REC-T-138, SEAL-T-460 and SEAL-T- 467 blocks. Silver Marlin also managed to obtain the same from the ANP Prolongation of the exploratory deadlines for the REC-T-138, T-460-SEAL and SEAL-T-467 blocks.
ERH Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
