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Anzon fast-tracks to 3MMbbls


Published Dec 12, 2007
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Australia-registered Anzon Energy Ltd. has achieved a three-million-barrel production milestone at the Basker Manta projet, where flows now average 12,500 barrels of oil per day.

The crude oil was such that recent 344,000 barrel load brought to the Shell Geelong refinery obtained an average price of $110 per barrel, good for $34.1 million net profit to the Basker Mantra project’s partners: Beach Petroleum Limited (40 percent), CIECO E&P (20 percent).

Anzon heralded Wednesday the “significant increase in oil and gas reserves from pre-development estimates” after fas-tracking development drilling and production.

Joint-venture manager Ocean Patriot will drill another development well in February 2008. Thereafter, the Kan Tan 4 rig will drill she shallow-water Basker-7, Basker -8 and Manta-3 wells late in 2008.

Tags: Anzon Energy Limited, Beach Petroleum Limited




   

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