Page 15 - LatAmOil Week 15 2022

LatAmOil NEWS IN BRIEF LatAmOil

This amount includes the prepayments already community, country, and the exciting oppor- area for the Corporation within the next three
made throughout 2021 and the complementary tunities we see for our business as global LNG years, a new core area that will rival the current
dividend to be paid starting May 16, 2022. demand rises is all part of the delivery of every level of production the Corporation has in its
The complementary dividend is equivalent cargo. historic current core producing area located in
to BRL2.8610762 per outstanding share (com- “We know just how important it is to play our the Lower Magdalena Basin.
mon or preferred). Considering the monetary part in the global energy transition, and I want As detailed in a press release dated April 6,
adjustment by the SELIC rate from December to commend all Atlantic’s employees and service 2022, BGEC’s independent prospective resource
31, 2021 until today, this value has an increase providers for their contribution to this accom- audit evaluated and estimated conventional nat-
of BRL0.0811879 per share. Thus, the total gross plishment which helps to fuel the success of our ural gas prospective resources that have been
amount to be distributed to shareholders, con- country.” aggregated to an unrisked mean of 17.3 trillion
sidering the monetary adjustment until today, is Atlantic’s first LNG cargo was lifted in April standard cubic feet and a risked mean of 6.6 tril-
equivalent to BRL2.9422641 per share. 1999. LNG Cargoes from the Atlantic Facility lion standard cubic feet for all prospects in the
The payment of this complementary div- are delivered to multiple worldwide destinations new deep Cretaceous La Luna conventional gas
idend will take place on May 16, 2022, for the in Europe, USA, South America, Asia, and the play.
holders of Petrobras’ shares traded at B3, and Caribbean. Pola-1 will be the first well targeting this
starting on May 23, 2022, for the holders of Atlantic LNG, April 8 2022 new deep conventional Cretaceous La Luna
American Depositary Receipts (ADRs) traded gas play, testing the first of 18 prospects and
at the New York Stock Exchange (NYSE). Canacol Energy’s Pola-1 leads that were included in the evaluation that
Shareholders will be entitled to remuneration underpinned those prospective resource esti-
as follows: 1. The record date for owners of Petro- exploration well targets mates. The La Luna consists of up to 3,300 feet
bras shares traded on the B3 will be today and for of marine carbonates and clastics, and is the
ADR holders will be April 18, 2022. 2. Petrobras’ 470 bcf of conventional gas primary source rock for most of the proven oil
shares will be traded ex-dividends on B3 and and gas reserves in Colombia, Venezuela, and
NYSE as of tomorrow, April 14, 2022. resource in Q3-2022 Ecuador, and is productive in various oil and gas
Petrobras, April 13 2022 fields in Colombia.
Canacol Energy is pleased to report on the Mark Teare, Senior Vice President of Explo-
conventional natural gas prospective resources ration for Canacol, stated, “The Pola-1 explora-
PERFORMANCE (resources other than reserves) for its Pola-1 tion well will be the first of several exploration
prospect on the VMM-45 exploration block wells the Corporation plans to drill to investigate
Atlantic LNG lifts located in the Middle Magdalena Valley (MMV) the potential of a new deep Cretaceous La Luna
basin of Colombia (the Audited Area). Boury conventional natural gas play located within the
4,500th LNG cargo Global Energy Consultants Ltd. (BGEC), Can- MMV basin, the oldest hydrocarbon producing
acol’s independent qualified resources auditor, basin in Colombia.
Almost 23 years after delivering its first cargo, was commissioned to conduct an independent “BGEC’s independent prospective resource
LNG production company Atlantic completed prospective resources audit of Canacol’s inter- audit evaluated and estimated conventional
loading its 4,500th cargo today (April 8, 2022) nal estimates of prospective resources for the natural gas prospective resources for the Pola-1
onto the vessel Cool Discoverer at the #2 Jetty at Audited Area effective December 31, 2021 (the prospect of an unrisked mean estimate of 1,161
its Point Fortin Facility. BGEC Report). Canacol is a natural gas focused bcf and a risked mean estimate of 470 bcf. The
Atlantic Chief Executive Officer Ron Adams exploration and production company, and the Pola-1 exploration well is anticipated to spud in
praised the achievement as testimony to the largest independent gas producer in Colombia. the third quarter of 2022, and the Corporation
company’s commitment to safe and reliable VMM-45 is one of five blocks that the Corpo- estimates it will take approximately five months
operations and the crucial role Trinidad and ration acquired in exploration bid rounds over to drill, complete and test.
Tobago continues to play in the global LNG the past three years. At 100% working interest in As Colombia’s largest independent natural
business. all five blocks, the Corporation has now assem- gas producer, with significant experience both
“It’s a big day for us, delivering 4500 cargoes bled 610,981 net acres within the deep conven- operating and participating in the drilling of
is a significant milestone marking a long legacy tional Cretaceous La Luna natural gas play in the deep wells in the MMV basin, and with a tech-
of value creation for the people of Trinidad and MMV basin. Success in this deep conventional nical team with experience in deep conventional
Tobago,” Adams said. “Our commitment to gas play would result in a new core gas producing gas plays elsewhere in the world, Canacol is well
positioned to identify, pursue, and quickly com-
mercialise potentially large new gas plays in
Colombia.
The Pola-1 exploration well is located within
10 km of the Transportadora de Gas Internac-
ional (TGI) operated gas pipeline that trans-
ports gas from the declining Ecopetrol operated
mature gas fields located in the Guajira region of
the Caribbean coast to the interior of Colombia.
The TGI pipeline currently has approximately
260mn cubic feet per day of spare capacity,
meaning that any discovery made at Pola-1 can
be quickly commercialised and sold into the
interior market.

Week 15 14•April•2022 www. NEWSBASE .com P15