"Both the Graff-X1 and Venus-X1 finds, according to Westwood Global Energy Group share similarities with the Guyana-Suriname Basin play.
The energy market intelligence platform said the discoveries have proved the presence of an extensive, prolific oil kitchen, and that its analysis suggests that “the Lower Cretaceous Venus play has a potential extent of up to ~58,000km², comparable to that of the Upper Cretaceous of Suriname-Guyana.”
It said a Suriname-Guyana scale oil province is “certainly possible”, “provided that the traps are present and the deepwater reservoirs are widespread and of good enough quality.”
PCL Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
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