Maple Sprouts New Peruvian Oil Field Approvals
Maple Energy plc announced an operational update in respect of its exploration program on Block 31-E and its development program on Block 31-B and Block 31-D.
Development Program on Block 31-B and Block 31-D
In May and June 2008, the Company received approvals of the environmental and social impact assessments from the Peruvian government for the Maquia (Block 31-B) and the Agua Caliente (Block 31-D) oil fields in Peru. A total of 22 development wells are planned to be drilled to depths of up to approximately 2,000 feet in the Maquia and Agua Caliente oil fields in 2008 and 2009. Drilling operations for this 22-well development program are expected to begin in the third quarter of 2008. An additional nine development wells may be drilled thereafter. Anticipated additional oil production from the initial 22 development wells is estimated to be in excess of 385 barrels per day.
Exploration Program on Block 31-E
As reported previously, the environmental and social impact approval for the drilling of the Santa Rosa Prospect (Santa Rosa 1X well) in Block 31-E was obtained from the Peruvian government in April of 2008. The Company expects to begin the preparation of the base camp for the Santa Rosa 1X well by July 2008 and to begin the preparation of the drilling site by August 2008. Maple expects to drill the Santa Rosa 1X in late 2008 to a depth of 14,750 feet.
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