Clontarf Energy provide an update on activity on its 100% owned Block 188 in Peru. This block in southern Peru covers 595,809 hectares and is located only 100 kms north east of the Camisea gas field.
Extensive work by Clontarf Energy on historical data, including a re-appraisal of a well drilled in the Panguana area of the block, indicates the possibility of an oil discovery in a previously drilled “commitment well”: i.e. a well drilled for contractual reasons only.
The company has completed a detailed work programme for a re-entry of the well drilled in 1999. Clontarf is in discussions on this specific project with a number of potential partners in the oil industry. Detailed strategic partnership negotiations are also underway on the remainder of this prospective block, as well as the other licence held by Clontarf in Peru - Block 183, which covers 396,826 hectares in the north-central Peruvian jungle.