Indigopool has reported that its client is offering a significant equity position in a highly prospective, under-explored, deep water permit with multi-BBOE potential. The permit lies offshore Palawan Island.
The primary prospect, a giant reef structure with estimated mean recoverable resources of 1.2 BBOE or 4 TCF gas, is drill ready and analogous with the Malampaya Field - the largest oil and gas field in the Philippines. There is significant further upside potential in the block via fifteen identified leads and other play concepts.
The fiscal regime is one of the best in Asia, and the license has terms that are favorable to the contractor, with full cost recovery and profit oil participation. An Information Memorandum with additional data will be available in an Online Data Room, followed by appointments in a Physical Data Room hosted by the operator. The large potential, the near term drilling schedule, the significant available interest, the favorable fiscal terms and the "room to run" all make this a world class opportunity.
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