Project IV

Exploration potential

Project IV is focused on exploring the full potential of our licences, including licence IX and Didi Lilo where we have identified significant prospectivity.

In 2023, we entered into a farm-out agreement with Georgia Oil and Gas and acquired 2D seismic over the Markopi Terrace prospect.

ProspectLicence1U (Low) Estimate2U (Best) Estimate3U (High) EstimateMean EstimateProbability of Geological Success (%)
Martkopi Terrace Middle EoceneDidi Lilo, XIM & XIQGross Oil Resources (MMbbl)31.4%
Gross Associated Gas Resources (BCF)
Gross Oil & Gas Resources (MMboe)
Net Present Value, 10% (USD MM)Probability of Economic Success (%)
Source: DeGoyler MacNaughton