Gulf Oil and Gas accountACCOUNT

Ansila Energy Announces Results of CFD Plan for Gora License

Source: www.gulfoilandgas.com 12/5/2019, Location: Europe

Ansila Energy has announced the results of a Conceptual Field Development Plan (CFDP) for the Gora license and economic evaluation of the unconventional 1.6 Tcf (1) 2C contingent resource discovered by the Siciny-2 well ahead of imminent appraisal operations.

The CFPD and economic evaluation was compiled by Xodus Group with a review and audit conducted by Netherland, Sewell & Associates, Inc. (NSAI).

Key Highlights:

- The Ansila Base Case scenario generates a gross (un-risked) pre-tax NPV10 of US$1,649 million with a project IRR of 62.6% (net US$577 million to Ansila);
- Based on Ansila management’s estimate of a 42% commercial CoS associated with the 2C resources the net (risked) pre-tax NPV10 equates to US$242 million;
- The purpose of the CFDP and economic evaluation was designed to assist investors in determining what the Siciny-2 well fracture stimulation and well test work program translates into in terms of a potential value per unit volume of 2C contingent resource in a success case.

The objective of the operations at Siciny-2 is to confirm the result of the already conducted diagnostic fracture infectivity test (mini-frac), and thereby improve the understating of the reservoir properties and improve confidence in the commerciality of the development.

NSAI concluded 'Based on our review of the economic model parameters, we regard the unrisked net contingent cash flow to be representative of the unrisked net cash flow that could be received from the properties if (1) the contingencies are successfully removed, (2) the best estimate (2C) contingent resources are produced, and (3) the properties are developed in accordance with the schedule of the CFDP.'

Andrew Matharu, Executive Director, commented:

'The CFDP and economic evaluation demonstrates the transformational value potential that may be unlocked from the unconventional gas resources at Siciny-2 in the event of a successful fracture stimulation and acquisition of associated reservoir and well performance data. A phased development plan would allow for early free operating cashflow whilst minimising capital expenditure requirements in a project with the potential to generate excellent returns in a robust gas pricing environment.'

(1) Volume estimates are from Netherland, Sewell & Associates, Inc. report entitled “Estimates of Reserves and Future Revenue and Contingent Resources to the Gemini Resources Ltd. Interest and Gross (100 Percent) Prospective Resources in Certain Oil and Gas Properties located in the Nowa Sol and Gora Concessions Permian Basin, Onshore Poland as of May 1, 2019” (Report). The % CoS are estimated by ANA Management.

Development News in Poland >>

Australia >>  9/21/2020 - Senex Energy has been awarded preferred tenderer status for natural gas acreage in the Surat and Bowen basins as part of the Queensland Government’s d...
Australia >>  9/17/2020 - The ATP 2021 joint venture (Vintage Energy Ltd) 50% and operator, Metgasco Ltd 25% and Bridgeport (Cooper Basin) Pty Ltd 25%) advises that a developme...

Gabon >>  9/16/2020 - BW Energy is presenting at the Pareto Securities' Energy Conference today. The presentation references the progression of an alternative development...
Vietnam >>  9/11/2020 - Pharos Energy plc, an independent oil and gas exploration and production company, is pleased to announce that it has received approval from the Prime ...

Australia >>  9/7/2020 - The Waitsia Gas Project Stage 2 proposal has been recommended for environmental approval by the Environmental Protection Authority (EPA), subject to s...
Australia >>  9/3/2020 - Kato Energy has submitted a proposal to develop the Amulet and Talisman fields, offshore Australia, to Australia's National Offshore Petroleum Safety ...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Poland Oil & Gas 1 >>  2 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.