Business
3D seismic reprocessing update, Chuditch PSC
3D seismic reprocessing update, Chuditch PSC.
About this update from Sunda Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8889U\n Baron Oil PLC\n 08 December 2021\n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310\n \n \n 8 December 2021\n \n \n Baron Oil Plc\n \n \n (\"Baron\" or the \"Company\")\n \n \n 3D seismic reprocessing update, Chuditch PSC\n \n \n Baron Oil Plc (AIM:BOIL), the AIM-quoted oil and gas exploration company, is pleased to provide an update on its offshore Timor-Leste TL-SO-19-16 Production Sharing Contract (the \"Chuditch PSC\" or the \"PSC\").\n \n \n 3D Seismic Reprocessing\n \n \n Baron's Timor-Leste subsidiary SundaGas Banda Unipessoal, Lda., which holds a 75% operating interest in the Chuditch PSC, has received interim products from the seismic reprocessing of 1,270 km2 of 3D seismic data along the trend of the Chuditch-1 gas discovery. The reprocessing work is being conducted by TGS-NOPEC Geophysical Company ASA (\"TGS\") at their UK processing centre, critically in close collaboration with Baron's technical team.\n \n \n Processed to an interim Pre-Stack Depth Migration, these initial data are already providing encouraging indications of improvement in the quality of subsurface imaging around the Chuditch gas discovery and offset prospects, compared to the legacy data. Interpretations from these interim data will now be used to feedback iteratively into the final sophisticated seismic processing, which remains on schedule and budget, with final data delivery to Baron during Q2 2022. The final processed version will be critical in the re-evaluation of the Chuditch discovery and surrounding prospectivity, in particular the evaluation of in-place volumes and the location of potential future wells.\n \n \n Investor Webinar \n \n \n An Investor Webinar on the Chuditch asset is planned for January 2022. The presentation is expected to include an updated technical overview and a discussion of the overall commercial context of Chuditch, including potential gas export options. Details of the Webinar will be announced in due course and a copy of the presentation will subsequently be posted on the Baron website. \n \n \n Jon Ford, Technical Director of Baron commented:\n \n \n \"The delivery of the initial products from the 3D seismic re...