Project Profile
Value: Undisclosed
Location: Cuyana Basin, Mendoza province, Argentina
Reserves: Unknown
Start-up year: -
Area: 7,694 sq km
The Santa Rosa Block has an area of 7,694 square kilometres with approximately 300 square kilometres being the area of greatest exploration interest. It covers a large, untested, shallow dome structure (less than 1,200 metres target depth) that is defined by four surrounding seismic lines on a regional grid. The Santa Rosa Block is located within the Cuyana Basin which has produced over 940 million barrels of oil and has an established infrastructure of pipelines, a refinery and an experienced oil industry work force. Oromin was the initial owner of the block.
In 2009, Oromin abandoned its SREx-2001 well on the Santa Rosa block after drilling encountered no signs of hydrocarbons. The firm believed that oil bearing zones are located to the south and southwest of the initial location based on seismic information and drilling preformed by other operators. In November 2005, Otto and Oromin Explorations Limited agreed to a Letter of Intent to farm-in to the Santa Rosa Block, whereby Otto Energy Limited would earn a 32.48% shareholding interest in an Oromin-owned British Virgin Islands company Cynthia Holdings Ltd that wholly owns an Argentinean company Exploraciones Oromin SA, which in its turn is the 100% holder of the rights to explore and produce from the Santa Rosa Block. Andes Energia has now entered into an option agreement to acquire a 100% of Cynthia Holdings, which owns 100% of Exploraciones Oromin, which has the exclusive right to a 100% interest in the Santa Rosa CC y B9 block, in the province of Mendoza, Argentina.
Operators:
Oromin Explorations Ltd.: Operator with 100% interest