The content has been shared, if you want to share this content with other users click here.
Sintana Energy (SNN) has announced the results of an independent, NI 51-101 compliant report of conventional and unconventional prospective resources on its VMM-37 block in Colombia's Middle Magdalena basin.
For the conventional formation (Lisama) on the block, in which the company has a 100% interest, the report indicates a P50 best estimate of unrisked prospective recoverable resources of 51Mb.
As to the unconventional zones of interest, the report shows a P50 best estimate of unrisked prospective recoverable resources of 700Mb.
The P50 best estimate before royalties for the company's 30% interest in the unconventional formations is a prospective recoverable resource of 210Mb.
Sintana has already entered into a farm-out agreement with US oil major ExxonMobil (NYSE: XOM) for the exploration and development of unconventional oil and gas resources in the Middle Magdalena basin. ExxonMobil will acquire a 70% participation interest and operatorship in the formations defined as unconventional.
The report on the 43,000-acre (17,402-ha) block was prepared by Petrotech Engineering.