Challenger Energy has issued volumetric assessments of three main prospects identified by geotechnical work on its AREA OFF-1 license offshore Uruguay.
The Teru Teru, Anapero and Lenteja prospects could contain a total of ~ 6.5 Bboe (Pmean, unrisked) and more than 16 Bbbl of oil in an upside case (P10, unrisked).
Total ultimate recoverable resources could be in the range of ~ 2 Bboe to more than 4.9 Bboe.
Internal estimates suggest an economic threshold for a discovery in the water and reservoir depths of 150 MMboe to 200 MMboe.
Challenger Energy Group plc (LON:CEG) is a Caribbean and Atlantic margin focused oil and gas company, with a range of petroleum assets located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of The Bahamas and Uruguay.