Monday 4 November 2019

Energean Oil and Gas plc the oil and gas producer focused on the Mediterranean, announced the successful appraisal of the Karish North Discovery, confirming best estimate recoverable resources of 0.9 Tcf (25 BCM) plus 34 million barrels of light oil / condensate(combined c.190 mmboe) significantly enhancing Energean’s discovered resource volumes across its Karish and Tanin leases.

Highlights

- Best estimate Gas Initially In Place (GIIP) of 1.3 Tcf (36 BCM) versus a pre-drill estimate of 1.0 – 1.5 Tcf (28 – 42 BCM)

- Best estimate recoverable resource volumes of 0.9 Bcf (25 BCM) plus 34 million barrels of light oil / condensate

- Volumes are incremental to the 2.4 Tcf (68 BCM) and 33 million barrels of light oil / condensate discovered resources that Energean already has in its Karish and Tanin leases

More information here.