Project Profile
Location: Morondava Basin, off the south-east coast of Africa, Madagascar
Reserves: 10.75 billion barrels of oil, 167 trillion cubic feet of conventional gas
Area: 10,000 sq. km
Tellus Resources Limited acquired a 25 percent interest (with the right to acquire up to an 80 percent interest) in a drill-ready and large scale onshore oil exploration asset in Block 3114 in Morondava Basin off the south-east coast of Africa on the Island of Madagascar. The Asset has recently been the subject of a seismic campaign which has identified large scale oil targets together with at least one drill-ready prospect. As such, a drilling campaign is planned to commence in the latter part of 2014.
Ambatry area: 2 ready-to-drill prospects and 165km of 2-D seismic (2012)
Bezaha area: 120km of 2-D sesmic (2013)
Operators:
PetroMad (Mauritius): Operator with 75% interest
Tellus Resources Limited: 25% interest (with the right to acquire up to an 80% interest)