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Dunraven Resources plc (“Dunraven”) is offering a select group of companies the opportunity to acquire an interest in the highly attractive Mahdia Block, offshore Tunisia.
- Acquire up to a 50% interest in a large, highly prospective block, located in a region with a proven hydrocarbon system and multiple play-types;
- The inferred oil discovery, EMD East, in 243 m of water with oil in the Oligocene Ketatna Formation and potential mean recoverable resources of 78 MMbbls, and a P10 upside of 174.5 MMbbls;
- Participate in well EMD-2 to be drilled to a target depth of 1,762 m TVDss. Drilling costs are estimated as USD 17.7 million. In the success case, a full suite of logs will be run together with drill stem testing in order to ultimately progress the EMD East field to development. Testing costs are estimated as an additional USD 7.2 million for the primary Ketatna target;
- Three additional prospects defined by 3D seismic data in the EMD area having a total of 88 MMbbls of potential mean recoverable resources;
- Six leads outside the 3D seismic coverage area that may be progressed to drillable prospects via the acquisition of additional 3D seismic data.