Black Rock Oil Awarded Colombian Exploration License
Black Rock Oil & Gas' joint venture partner in Colombia, Kappa Resources, has been awarded the Alhucema Association Contract. The Alhucema area is within the Area of Mutual Interest agreed between Black Rock and Kappa and the award is subject to the approval of the Colombian National Hydrocarbons Agency (ANH). Black Rock will assume a 50% interest in the license whilst Kappa will be the Operator.
The Alhucema license has an area of 65,700 hectares (162,000 acres) and lies immediately to the north of the Kappa-operated Las Quinchas license, in which Black Rock has a 50% interest.
The first year's work program on Alhucema involves the acquisition of new 2D seismic data and the reprocessing of existing data, evaluation of which will lead to the selection of locations for exploration drilling in subsequent years of the license. It would be expected that drilling within the License will commence in 2006.
The potential of the Alhucema area is believed to be similar to that already being pursued on the Las Quinchas license, with both light and heavy oil plays recognised at various stratigraphic levels.
Ivan Burgess, Managing Director of Black Rock Oil & Gas plc, commented:
"This award illustrates the benefits of working closely with a local partner in Colombia and represents a significant addition to our exploration portfolio. Discussions are underway to define future activity in both Colombian licenses."
- Pacific Rubiales Grabs Colombian O&G Company for $168MM (Jul 08)
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- Black Rock Hits Oil with Acacia Este 2 in Colombia (Mar 04)
Company: Black Rock Oil & Gas more info
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