RRL

O/T for technicals, but I know these Guatamalan assets very well and some of the characters that are now working with them. We worked with them some years ago and it was like getting blood out of a stone.

The reservoir at the Atzam license is fractured throughout which inhibits the free flowing of oil when it is found in place. Guatemal is at a convergence of three tectonic plates that make any production difficult. Wells certainly won't flow without submersive pumps. The license is also some distance from (or was) the nearest marketing point which is/was Perenco pipeline.

I wouldn't bet too much on long term success here and wouldn't expect more than a few hundred bbls per day when flowing, but expect the flow to be erratic, even with pumps.

Just thought i'd give you guys a heads up, though I do intend to remain anonymous.

F4T

Food4Thought wrote: O/T for technicals, but I know these Guatamalan assets very well and some of the characters that are now working with them. We worked with them some years ago and it was like getting blood out of a stone.

The reservoir at the Atzam license is fractured throughout which inhibits the free flowing of oil when it is found in place.
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Hi F4T,
"fractured throughout" from a non oiley I would have thought the fractures would have helped the permeability and thus helped flow? Do you mean they are faulted throughout perhaps? Not disagreeing with you, I do hold some RRL for my sins and had thought the guatamalan play may be a nice addition, so dissapointed to hear your thoughts TBH I think PL intends to buy CTR and use it as the Puntland farmout vehicle.

Kind regards

c d

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