Project Profile
Location: Pannonian basin, north eastern Hungary
Area: 878 sq km
Start-up Year: -
The Püspökladány Block (Block P) totals 878 sq km containing the abandoned Biharnagybajom (BNB) oilfield and prospects identified on both historical 2-D and 3-D seismic. The BNB oilfield has not been worked on within the past twenty years apart from a portion of a 3-D seismic shot over 500 sq km of the block in 2005.
Bankers Petroleum made a successful bid in the third Hungarian bid round for 85% of the prospect. The project is a newly formed joint venture with TDE Services known as PanBridge Hungary Zrt., committed to acquire 200 sq km of 3-D seismic over a portion of the block and three subsequent vertical exploration wells to be drilled by 2019 to assess the potential of the oilfield and surrounding exploration targets. The joint venture\'s plan to acquire 3-D seismic as early as the fall of 2016 will require up to US$3.7 - US$4.25 million within the 2016 calendar year, with the remaining financial commitment to be spent on exploration drilling in 2017 and beyond.
Operators:
Bankers Petroleum: Operator with 85% interest
TDE Services: 15% interest