Block partners sought offshore Peru, Philippines

Offshore staff

HOUSTON – SWAN Oil & Gas is seeking partners for its SC51-South block in the Cebu Strait offshore the Philippines, according to broker Indigo Pool.

A 35% working interest is available for a negotiated share of a one-well work program commitment.

Two prospects have been identified on the block, featuring stacked horizons in zones that have delivered commercial oil production in nearby wells. There are also 10 leads.

Offshore Peru, an unnamed client of Indigo Pool is seeking partners for an exploration program in the Tumbes basin.

A recent 3D seismic survey allowed definition of 11 Neogene prospects and leads each with potential oil-in-place resources in the range 100-250 MMbbl. A first well is planned for the second half of 2012.

08/04/2011



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