Plans for Development
Highly successfully appraisal drilling campaign undertaken in Q4 2019 led to 80% increase in 2C resources to 495 Bcf (gross) and 108% increase in 3C resources to 817 Bcf (gross).
Contingent resources are expected to be upgraded to reserves once key commercial milestones have been achieved. These milestones are the focus for 2021 and include submission of an updated Plan of Development which incorporates increased resource estimates, as well as securing a Gas Sales Agreement.
A number of straightforward development concepts are under consideration by the Operator, Conrad Petroleum Ltd.
Partners are targeting Final Investment Decision in mid-2022.