• Home
  • News
  • Timor Resources plans Q4 spud for historic onshore campaign

Timor Resources plans Q4 spud for historic onshore campaign

21 Jul 2020 12:37 PM | Sonia Harvey (Administrator)

TIMOR Resources said today it hoped its long delayed south coast drill campaign will begin in the fourth quarter once it receives its Environmental Approval to drill. 

These will be the first onshore wells drilled in five decades in Timor-Leste.  

Mining and petroleum body the ANPM will issue the approval under the new onshore oil and gas regulations in the coming weeks. Dili finally enacted its long awaited onshore petroleum laws in late May.  

The law had been pending promulgation since February last year in the small, politically tumultuous nation and is crucial not just for Timor Resources but for the on- and-offshore bidding round currently underway.  

The 12-month round was due to end in October but has been extended another year given market conditions.  

It is only Timor-Leste's second block auction and offers 11 offshore and seven onshore blocks, with several onshore blocks in the undrilled frontier areas of the north.   

"Drilling plans have unfortunately been delayed due to COVID 19 and the obstacles created by the pandemic, travel restrictions and supply chain disruption," it said today. 

Energy News reported in May drill plans had been pushed back and then, the company hoped for a June spud.  

Timor Resources spent last year busy with a 500sq.km 2D seismic campaign in the lead up to this year's drilling campaign, which originally planned for five wells this year and, pending success, five in early 2021. The project is operated under a production sharing contract with the government.  

Based on the 340sq.km of seismic a best-estimate resource of 342 million barrels of prospective resources was calculated by an independent third party, which Timor suggests could indicate potential for a discovery of over 20 million barrels of oil equivalent.

Source: Energy News Bulletin

Energy Club NT is an Incorporated Association 

The information contained in this website is for general information purposes only. The information is provided by Energy Club NT Inc and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites and files which may not be owned, authored or under the control of Energy Club NT Inc. We have no control over the nature, content and availability of other websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Powered by Wild Apricot Membership Software