Project Profile
Value: Undisclosed
Location: Eastern flank of the prolific Neiva sub-basin (Upper Magdalena Basin), Colombia
Reserves: Unknown
Area: 41,733 gross acres
Start-up Year: -
The Antares Block is an E&P contract operated by Petróleos del Mar. It is located on the eastern flank of the prolific Neiva sub-basin (Upper Magdalena Basin) and covers an area of 41,733 acres. Azabache currently holds a 50% working interest at Antares (with technical authority and direction, but not direct operatorship). The block has 2 drill-ready prospects: the Lemaya Prospect, which is an overthrust structure for the Caballos Fm, and La Mona Prospect (a fault bounded closure structure for the Monserrate Fm and a four-way closure for Tertiary units). Additional leads have been identified, but they require 3D data to be better defined. The drilling of both wells and the seismic acquisition have been delayed, waiting for the pertinent authorization to enter the area, which is located within a national park, that occupies the northern portion of the block.
Azabache Energy, with 50% participating interest at Antares, failed to file its financial statement for the 2015 financial year, which subsequently led to a cease order on trading its securities.
Operators:
Petróleos del Mar: Operator with 50% interest
Azabache: 50% interest