- Prominent basin centre high with up to 100 km2 of closure located directly above Heath Formation shales at peak oil maturity.
- Intensity of faulting decreases with depth meaning that deeper reservoirs within the Zorritos Formation have lower seal risk.
- Zorritos Formation comprises deepwater facies interpreted to contain intra-slope channels and basin floor turbidites which are likely to have been reworked by coast-parallel currents.
- The Bonito prospect offers an opportunity to test multiple target levels in an optimum location. The structure sits above mature source rocks that are at peak oil maturity
“See company announcement dated 9th of April 2025. Cautionary Statement: Prospective Resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project related to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially recoverable hydrocarbons.
The Company confirms that it is not aware of any new information or data that materially affects the information included in this webpage and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.”