Sagres Energy Inc.
Description
Sagres is in the early stages of corporate value growth and is focused on multiple drill ready, high impact PSC's in Jamaica. These PSC's are held 100% by Sagres. They cover an area in excess of 8800 square km, and have a Pmean Gross unrisked Prospective Resource of approximately 3 Billion barrels. Sagres is currently seeking JV partners for a planned drill campaign in 2011.
In concert with Canacol Energy, Sagres has recently initiated its drilling campaign in Guyana. Sagres is drilling to earn a 25% interest in a block which covers most of the Takutu Basin, onshore Guyana. The Takutu block is 7800 square km in area and has a Pmean Gross unrisked Prospective Resource of over 430 Million barrels. This well offsets the historical Karanambo discovery, which tested more than 400 bopd of 42 degree API oil.