Condor Energy (ASX:CND) is an Australia-based oil and gas exploration company focused on developing its recently acquired Tea LXXXVI oil and gas block in Peru, located in the Tumbes basin and near the prolific Talara basin. The project’s hydrocarbon exploration potential leverages Peru’s long history as an oil and gas producer dating back to the late 19th century when the country drilled its first well more than 150 years ago.
Hydrocarbon fields in the Tumbes and Talara basins have contributed over 1.4 billion barrels of domestic oil production and 1.7 trillion cubic feet (TCF) of natural gas production. The Talara basin itself has cumulatively produced more than 1.6 billion barrels of oil and is surrounded by multiple historic and currently producing oil and gas fields.
Condor Energy’s Tea LXXXVI project is the result of a technical evaluation agreement (TEA) with the Peruvian National Agency of Hydrocarbons (Perupetro), which provides Condor Energy and its partner, US-based oil and gas exploration company Jaguar Exploration, the exclusive right for greenfield exploration activities over the TEA area. Condor Energy holds an 80-percent interest in the asset with the remaining 20 percent held by Jaguar.
The project comprises a 4,858-square-kilometer oil and gas block in proven offshore hydrocarbon-bearing basins in Peru, including the prolific Talara basin. Offshore, Peru remains dramatically underexplored and has immense potential for hydrocarbon plays.
Considering the block's potential, Condor Energy has appointed a world-class technical team with more than 200 years of collective experience to develop the TEA LXXXVI asset. Several of the newly appointed team members have previously worked on the area covered by Condor Energy, which should help in fast-tracking the development of the block. The team comprises proven oil finders with collective discoveries of more than 480 million barrels of oil equivalent of 2P reserves and more than 400 million barrels of oil equivalent in contingent resources in Peru and Colombia.
The experience of working in the TEA LXXXVI property and surrounding fields will be vital for Condor Energy to expedite the understanding and evaluation of the asset.
This oil and gas block is located on the northwest coast of Peru in the Tumbes basin, in water depths that range from 100 meters to 1,500 meters. The project spans 4,858 square kilometers and is surrounded by historical and current producing oil and gas fields. The block includes the Corvina oil field which generated past production rates of up to 4,000 barrels of light oil per day. In the south is the Talara basin, which is one of the most productive basins in Peru having produced more than 1.6 billion barrels of oil. To the southeast is the Alto-Pena Negra oil field, one of Peru’s most productive fields, currently producing around 3,000 barrels of oil per day and with a total historical production of more than 143 million barrels of oil.
The project benefits from excellent infrastructure, including a refinery only 70 kilometers away.
Matt Ireland, a partner at Steinepreis Paganin, is a highly experienced corporate and commercial lawyer with extensive experience in corporate governance and compliance matters as well as in mining and oil & gas transactions including joint venture agreements, M&A transactions, capital raisings and asset acquisitions/disposals. Ireland graduated from Murdoch University with a Bachelor of Laws and a Bachelor of Commerce in 2002 and was admitted to the Supreme Court of New South Wales in 2003 and the Supreme Court of Western Australia in 2004.
Serge Hayon is an experienced reservoir engineer and petroleum geologist with broad exposure to working with and managing multi-disciplinary teams primarily focused on South East Asia, the Americas and Australia. Hayon has a Bachelor of Science in Geology (Honours) and an MEngSc in Petroleum Engineering from Curtin University.
Hayon worked for Murphy Oil Corporation for 20 years including most recently as general director / country manager Vietnam during which time he was in charge of the overall management of the Asia business including establishing Murphy’s entry into and securing Final Investment Decision on the Lac Da Vang oilfield, Vietnam. Hayon has delivered projects encompassing the complete lifecycle from exploration, discovery, appraisal to first oil and production of large oil and gas assets.
Scott Macmillan is the managing director and founder of Invictus Energy Limited (ASX:IVZ) which, since listing on the ASX in 2018, has seen Invictus grow substantially in value from a microcap frontier explorer to an emerging oil and gas developer. Invictus Energy is an oil and gas company opening one of the last untested large fronter rift basins in onshore Africa. Macmillan is a reservoir engineer with more than 15 years of experience in oil and gas exploration, field development planning, reserves and resources assessment, reservoir simulation, commercial valuations and business development. Before founding Invictus, Macmillan worked as a senior reservoir engineer at Woodside Energy and AWE, during which time he participated in large offshore oil and gas field operations and the development of the Waitsia Gas Field.
Lloyd Flint, BAcc, FINSIA and MBA is a chartered accountant with over 25 years’ experience in the corporate and financial services arena. He has held a number of management and senior administrative positions as well as providing corporate advisory services as a consultant to corporate clients.
(TheNewswire)
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Brossard (Québec) TheNewswire - le 9 octobre 2024 - CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert, est ravie d'annoncer un ajout clé à son équipe des opérations de gaz industriels alors qu'elle se prépare pour la production à son projet phare à Sorel-Tracy, au Québec .
Renforcer les opérations terrain avec un nouveau leadership
Charbone est heureuse d'accueillir Patrick Cuddihy , un leader des opérations chevronné avec plus de 20 ans d'expérience chez Air Liquide Canada, au sein de son équipe des opérations hydrogène. Patrick apporte une richesse d'expertise dans la gestion de la production et de la distribution de gaz industriels, ayant occupé des postes de direction, notamment comme Directeur des ventes réseau – région du Québec, Directeur général – région du Pacifique, Directeur des services d'approvisionnement et Directeur de la logistique et des actifs – région de l'Est .
Son sens opérationnel sera déterminant dans la transition de Charbone d'un développement de projet à la production à grande échelle. Travaillant en étroite collaboration avec l'équipe de direction de Charbone, Patrick soutiendra les opérations et la gestion de la production d'hydrogène vert aux États-Unis et au Canada .
" La vaste expérience de Patrick dans le domaine des gaz industriels, en particulier dans les opérations et la gestion de la chaîne d'approvisionnement, renforcera considérablement notre équipe alors que nous passons de la planification à l'exécution , a déclaré Dave Gagnon, Chef de la direction chez Charbone. " Alors que nous nous préparons à générer nos premiers revenus, nous nous concentrons sur l'augmentation de la valeur des actionnaires grâce à des opérations efficaces et à une croissance stratégique . "
Expansion des opérations et de la main-d'œuvre
La production d'hydrogène vert de Charbone devrait débuter plus tard cette année à son usine de Sorel-Tracy, avec un deuxième site près de Detroit, Michigan prévu d'ici la fin de 2024. Dans le cadre de sa stratégie d'expansion plus large, la Société augmente également ses effectifs et cible de nouvelles opportunités de marché dans des régions clés, notamment New York, l'Ontario, la Pennsylvanie, l'Illinois, le Wisconsin et la Californie.
De plus, Charbone a été invité à participer à deux demandes d'informations (RFI) à grande échelle, démontrant une fois de plus la demande croissante de solutions d'hydrogène vert. D'ici 2030, la société vise à exploiter 16 installations de production d'hydrogène vert en Amérique du Nord.
Invitation au webinaire : Key Insights for Hydrogen Investing
Rejoignez Charbone au webinaire gratuit d'Investing News Network (INN) aujourd'hui, le 9 octobre, où la société discutera du marché en croissance rapide de l'hydrogène et des principales opportunités pour les investisseurs. Ne manquez pas cet événement plein d'énergie ! Inscrivez-vous ici .
À propos de Charbone Hydrogène Corporation
Charbone est une compagnie intégrée de production d'hydrogène vert axé sur la création d'un réseau nord-américain d'usines de production. En utilisant des énergies renouvelables, Charbone produit du dihydrogène (H2) respectueux de l'environnement pour les utilisateurs industriels, institutionnels, commerciaux et de la mobilité future. Charbone est présentement la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert avec ses actions listées sur la Bourse de croissance TSX (TSXV: CH); les marchés OTC (OTCQB: CHHYF); et la Bourse de Francfort (FSE: K47). Apprenez-en davantage sur www.charbone.com .
Énoncés prospectifs
Le présent communiqué de presse contient des énoncés qui constituent de « l'information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l'intention », « anticipe », « s'attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s'y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l'inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l'adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.
Sauf si les lois sur les valeurs mobilières applicables l'exigent, Charbone ne s'engage pas à mettre à jour ni à réviser les déclarations prospectives.
Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'acceptent de responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.
Contacts
Pour de plus amples informations, veuillez contacter :
Dave B. G agnon | ||
Chef de la direction et président du conseil d'administration | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 844-7170 | ||
Courriel: dg@charbone.com | ||
Daniel Charette | ||
Chef de l'exploitation | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau : +1 438 800-4946 | ||
Courriel: dc@charbone.com | ||
Benoit Veilleux | ||
Chef de la direction financière et secrétaire corporatif | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 800-4991 | ||
Courriel: bv@charbone.com |
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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Brossard, Quebec TheNewswire - October 9, 2024 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE"), North America's only publicly traded pure-play green hydrogen company, is excited to announce a key addition to its industrial gases operations team as it prepares for production at its flagship project in Sorel-Tracy, Quebec.
Strengthening Field Operations with New Leadership
CHARBONE is pleased to welcome Patrick Cuddihy , a seasoned operations leader with over 20 years of experience at Air Liquide Canada, to its hydrogen operations team. Patrick brings a wealth of expertise in managing industrial gas production and distribution, having held senior roles including Network Sales Director – Quebec Region, General Manager – Pacific Region, Director of Procurement Services, and Director of Logistics and Assets – Eastern Region.
His operational acumen will be instrumental as CHARBONE transitions its first project deployment to full-scale production. Working closely with CHARBONE's executive team, Patrick will support the operation and the management of green hydrogen production projects across the U.S. and Canada.
" Patrick's extensive experience in industrial gases, particularly in operations and supply chain management, will significantly strengthen our team as we move from planning to execution," said Dave Gagnon, Chief Executive Officer and Chairman of the Board, Charbone Hydrogen. "As we prepare to generate our first revenues, we are focused on increasing shareholder value through efficient operations and strategic growth."
Expanding Operations and Workforce
CHARBONE's green hydrogen production is set to commence later this year at its Sorel-Tracy facility, with a second site near Detroit, Michigan planned by the end of 2024. As part of its broader expansion strategy, the Company is also growing its workforce and targeting new market opportunities in key regions, including New York, Ontario, Pennsylvania, Illinois, Wisconsin, and California.
Additionally, CHARBONE has been invited to participate in two large-scale Requests for Information (RFIs), further demonstrating the growing demand for green hydrogen solutions. By 2030, the Company aims to operate 16 green hydrogen production facilities across North America.
Webinar Invitation: Key Insights for Hydrogen Investing
Join CHARBONE at the Investing News Network's (INN) Free Webinar today, October 9th, where the Company will discuss the fast-growing hydrogen market and key opportunities for investors. Don't miss this high-energy event! Register here .
About Charbone Hydrogen Corporation
CHARBONE is an integrated green hydrogen company focused on creating a network of modular green hydrogen production facilities across North America. Using renewable energy, CHARBONE produces eco-friendly dihydrogen (H2) for industrial, institutional, commercial, and future mobility users. CHARBONE is currently the only publicly traded pure-play green hydrogen company, with shares listed on the TSX Venture Exchange (TSXV: CH); the OTC Markets (OTCQB: CHHYF); and the Frankfurt Stock Exchange (FSE: K47). Learn more at www.charbone.com
Forward-Looking Statements
This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
Contacts Charbone Hydrogen Corporation | ||||
Dave B. Gagnon | ||||
Chief Executive Officer and Chairperson of the Board | ||||
Telephone: | +1 438 844-7170 | |||
Email: | ||||
Daniel Charette | ||||
Chief Operating Officer | ||||
Telephone: | +1 438 800-4946 | |||
Email: | ||||
Benoit Veilleux | ||||
Chief Financial Officer and Corporate Secretary | ||||
Telephone: | +1 438 800-4991 | |||
Email: | ||||
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
HIGHLIGHTS
Elixir has now concluded its testing program of the Daydream-2 well and the well is being retained through a process of suspension as a future gas producer. The Coil Tubing Unit (CTU) has been released back to Elixir’s neighboring Operator to continue with its ongoing multi-well program.
All licence commitments have now been met for ATP 2044 and Elixir will now proceed with a process of applying for the licence to be deemed a retention lease (in Queensland this is called a Potential Commercial Area – PCA – which has a maximum term of 15 years).
The well delivered gas flow rates from five out of the six stimulated zones – including for the first time in two separate deep coal zones.
Achieving flows from these deep coals should allow the commencement of the conversion to contingent resources of the current prospective resources booked in the coals in ATP 2044 (see ASX announcement of 21 February 2024). Elixir will work with its independent auditors over this initial contingent resource booking in the coming months.
During the final phase of testing, gas was flowed at various rates and various choke sizes. A maximum flow rate of 2.6 MMSCFD was recorded and the stabilized rate was 1.0 MMCFPD prior to shut-in.
This reduction in stabilised rate has been attributed to condensate or water banking immediately around the wellbore.
This was likely caused by the multiple open and closures of the well during recent operations, or by adverse reactions to fluids introduced into the wellbore. Such issues are common in early stage tight gas plays globally and can be remedied by operational changes to fluid use and well management. Due to the appraisal nature of this well, the extensive multi-phase testing and evaluation undertaken (including for R&D purposes) was required as part of the planning for a future development.
Flare from Daydream 2 prior to well being suspended
Click here for the full ASX Release
This article includes content from Elixir Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces September 2024 sales volumes and an operational update.
President & CEO, Corey C. Ruttan commented:
"We saw increased production levels through the third quarter, and we are very excited about strong early production results from our 183-A3 completion. We look forward to continued production from the well and based on these early results we expect to be drilling follow up locations starting later this year."
September Sales Volumes
September sales volumes averaged 1,963 boepd including natural gas sales of 11.2 MMcfpd, associated natural gas liquids sales from condensate of 87 bopd and oil sales of 9 bopd, based on field estimates. Our Q3 2024 sales averaged 2,106 boepd, a 29% increase compared to 1,629 boepd in Q2 2024.
Natural gas, NGLs and crude oil sales: | September 2024 | August 2024 | Q3 2024 | Q2 2024 |
Natural gas (Mcfpd), by field: | ||||
Caburé | 10,016 | 10,648 | 11,379 | 8,822 |
Murucututu | 1,185 | 336 | 615 | 422 |
Total Company natural gas (Mcfpd) | 11,201 | 10,984 | 11,994 | 9,244 |
NGLs (bopd) | 87 | 79 | 95 | 76 |
Oil (bopd) | 9 | 9 | 12 | 12 |
Total Company (boepd) | 1,963 | 1,919 | 2,106 | 1,629 |
Operational Update
In September, we finished the initial completion of our 183-A3 well. The well came on production during September and is still cleaning up as we produce natural gas and completion fluids. For the last 72 hours of continuous production, the 183-A3 well has produced at an average rate of 59.4 e 3 m 3 /d (2.1 MMcfpd) gas, 175 barrels of completion fluid per day and 50 barrels of condensate per day. Flowing wellhead pressure has averaged 1,195psi (8,239kPa) during this period, with the final value being 1,150 psi (7,926kPa). Production has been managed through a constant 18/64" choke and we still have not recovered all the completion fluid introduced into the well. In parallel, we finished the recompletion of our 183-1 well in an uphole Caruaçu zone and, based on swab results, we have contacted a zone that is only producing water. We will continue to monitor the production from the 183-A3 well and based on those results we expect to design a follow up intervention for the 183-1 well and commence a drilling project up-dip of the 183-A3 well from our prebuilt 183-D pad location.
Corporate Presentation
Alvopetro's updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .
Social Media
Follow Alvopetro on our social media channels at the following links:
Twitter - https://twitter.com/AlvopetroEnergy
Instagram - https://www.instagram.com/alvopetro/
LinkedIn - https://www.linkedin.com/company/alvopetro-energy-ltd
YouTube - https://www.youtube.com/channel/UCgDn_igrQgdlj-maR6fWB0w
Alvopetro Energy Ltd.'s vision is to become a leading independent upstream and midstream operator in Brazil . Our strategy is to unlock the on-shore natural gas potential in the state of Bahia in Brazil , building off the development of our Caburé and Murucututu natural gas assets and our strategic midstream infrastructure.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
All amounts contained in this new release are in United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.
Abbreviations:
boepd | = | barrels of oil equivalent ("boe") per day |
bopd | = | barrels of oil and/or natural gas liquids (condensate) per day |
e 3 m 3 /d | = | thousand cubic metre per day |
m 3 | = | cubic metre |
m 3 /d | = | cubic metre per day |
Mcf | = | thousand cubic feet |
Mcfpd | = | thousand cubic feet per day |
MMcfpd | = | million cubic feet per day |
NGLs | = | natural gas liquids |
BOE Disclosure . The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.
Well Results . Data obtained from the 183-A3 well and the 183-1 well including production volumes should be considered to be preliminary. There is no representation by Alvopetro that the information contained in this press release is necessarily indicative of long-term performance or ultimate recovery. The reader is cautioned not to unduly rely on such data as such data may not be indicative of future performance of the wells or of expected production or operational results for Alvopetro in the future.
Forward-Looking Statements and Cautionary Language. This news release contains "forward-looking information" within the meaning of applicable securities laws. The use of any of the words "will", "expect", "intend" and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking information concerning proposed development activities planned by the Company and the timing of such activities. Forward -looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to, expectations and assumptions concerning forecasted demand for oil and natural gas, the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations regarding Alvopetro's working interest and the outcome of any redeterminations, the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulation relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, general economic and business conditions, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, the regulatory and legal environment and other risks associated with oil and gas operations . The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our annual information form which may be accessed on Alvopetro's SEDAR+ profile at www.sedarplus.ca . The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Alvopetro Energy Ltd.
View original content: http://www.newswire.ca/en/releases/archive/October2024/07/c4913.html
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