Colombia's Next Natural Gas Producer and It's Huge Potential For Multi-TCF Discoveries, an Interview with NG Energy's CEO Serafino Iacono
I have a detailed talk with Serafino Iacono, one the worlds most successful resource investors about GASX.V (a core portfolio holding) upcoming drilling of Sinu-9 and first production at Maria Conchita. The Sinu-9 Block covers an area of 311,353 acres and is located in the north part of Colombia sharing area in Lower Magdalena and San Jacinto basins, two of the basins with the largest gas and light oil potential in the country. The region has excellent infrastructure with open access to national oil and gas pipelines, 50km port access, and coverage of a reliable electricity grid. NG Energy has secured financing and identified four drilling locations for a 2021 Summer/Fall exploration program. Flagship Highlights Excellent exploration potential for natural gas with Best Estimate ContingentResources of 37.0 Bcf and Best Estimate Prospective Resources (Prospects) Unrisked of 602.2 Bcf (Risked 182.4 Bcf) and Prospective Resources (Leads) of459.0 Bcf gross(1) Canacol’s block to the west has booked natural gas 2P reserves of 637 Bcf and production of 172 MMcf/d 2020(2) Canacol recently drilled Aguas Vivas 1 to the east of Sinu-9 and hit 402 ft of pay zone and tested 35.5 MMcf/d(3) Area has excellent infrastructure with open access to national oil and gaspipelines, and coverage of a reliable electricity grid Binding offer for $27.7 million financing package with CPVEN to construct andcomplete 4 wells NG has identified four near-term drilling locations SINU-9 Best Estimate Contingent Resources of 37.0 Bcf1 Best Estimate Prospective Resources (Prospects) Unrisked of 602.2 Bcf (Risked 182.4 Bcf) and Prospective Resources (Leads) of 459.0 Bcf1 Binding offer for US$27.7 million financing to construct & complete initial four-well drilling program: Q4-21: Drilling of Magico-1X and Mago Q4-21: Production tests through temporary facilities beginning at Magico and Mago and design of permanent production facilities Maria Conchita 2P Reserves of 27.7 Bcf1 Best Estimate Gross Prospective Resources (prospects) Unrisked 155.9 Bcf (Risked 31.4 Bcf)1 Tested 7-11 MMcf/d through separate DST tests in 3 different zones with 48/64” choke on Aruchara-12 ⚫ Q4-21: Complete pipeline and production facilities connecting field to national infrastructure https://drjonesresourceinvestor.wordpress.com/ https://ngenergyintl.com/wp-content/uploads/2021/09/NGE-September-2021.pdf. --- Send in a voice message: https://podcasters.spotify.com/pod/show/docjonesresourceinvestor/message