Baron Oil announces encouraging seismic results an extension of licence period at Block XXI, onshore Peru

Monday, March 7, 2016      

The Board of Baron Oil plc is pleased to announce that the recently acquired 2D seismic data on the 100% owned Block XXI onshore Peru has now been processed by GSS and analysed by the company and its consultants.

The seismic data has produced some encouraging results and the Company representatives met with Perupetro in Lima on 3 March to review these results and inform Perupetro that we will extend the licence period for a further 18 months and also relinquish 20% of the licence area as required under the terms of our exploration contract.

The seismic data and subsequent analysis has shown several interesting indicators:

  • located to the north east of the original Minchales well bore there appears to be a small gas accumulation of up to 5bcf in sands at around 4,425 feet subsurface.
  • perhaps more significantly, the seismic data clearly shows several gas chimneys which we believe are the source of a 10 ft gas zone identified in a shallow sand at 2,535 feet subsurface in the original Minchales well and the apparent accumulation to the north east. We believe that gas is leaking up from fractured basement rock at around 6,000 feet subsurface, causing the gas chimney effect. Gas shows were encountered in the electric logs at the igneous basement level at the bottom of the original Minchales well.

Bill Colvin said:

'We have been encouraged by the recent seismic results and we believe this is an area with significant potential. We will now work to define a well location and design and cost an exploration well that will enable us to test as many of the potential hydrocarbon bearing zones as possible. Once we have completed that work we will decide whether to move forward to drill a well, most likely by bringing in a partner to share the drilling costs. We have no additional work commitments by extending the licence as those are all fulfilled already.'


Article Tags

Baron Oil PLC Peru South America Operations Update Fracking Seismic

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

Related News

Join 80,000 oil and gas professionals who receive our weekly newsletter.

You may unsubscribe at any time with one click.

Popular Headlines View all

Latest Opinion View all

Join 90,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Create profile

Time for a change? All jobs Jobs near you


OilVoice, established in 2002, is your leading source of upstream news, jobs and industry information.


Each week we send our weekly industry round-up. Why not try it? You may unsubscribe at any time.

Contact OilVoice

Milton Keynes
United Kingdom
Contact Us

Stay Connected

2016 © OilVoice  .  Privacy Policy  .  Terms of Service  .  Oil Careers  .  Advertise with us