Stuart,
Its good to see you are taking such a keen interest in reviewing announcements.
The statements you are referring to were at the bottom of a summary of the one of the Company’s priority prospect known as Guijarral Hills (GH).
GH is part of the existing Guijarral Hills field which has produced some 50 million boe. We are targeting a stratigraphic trap known as the Gatchell sand.
The Gatchell p50 is ~5 mmboe and has produced primarily from an adjacent block. There is also a secondary objective (the leda).
GH is within an existing oil field and we have a permit ready to drill, the prospect has achieved some interest from other parties wanting to farmin to it primarily because it is effectively an appraisal well and because an operations could commence immediately.
Once the partnership interests are put to bed this would hopefully be the first well we can drill.
Nuenco has an inventory of similar prospects, some more advanced than others on our 152,000 acreas located in the basin.
In respect of the summary of the San Joaquin clearly Incremental did a good job at succinctly summarizing the potential upside and opportunities and hence the reason it was referred to. In future we will attempt to locate other generic information about the basin unseen by the public eye.
Nuenco is clearly focused on its acearage in the San Joaquin.
Once again I will put together a map summarizing our acearage position which should help investors get a better feel for the land holding.
Kind regards
Mark
NEO
nuenco nl
