Evidence for Multiple Petroleum Systems Confirms Oil & Gas Plays in Peruvian TEA

Evidence for Multiple Petroleum Systems Confirms Oil & Gas Plays in Peruvian TEA

Condor Energy Ltd (ASX: CND) (Condor or the Company) is pleased to provide an update on exploration progress at its Technical Evaluation Agreement (TEA) offshore Peru where two large oil prospects (Raya and Bonito) have already been identified and regional mapping shows that the primary source rock interval, the Oligocene/Miocene aged Heath Formation, is mature for oil generation over much of the TEA area.


HIGHLIGHTS
  • Maturation mapping shows that at least two source rock intervals are present within the TEA
  • Heath Formation source rocks shown to be oil mature over majority of the TEA
  • Zorritos Formation reservoirs (primary target) have access to oil charge from mature Heath Formation source rocks
  • Piedra Redonda gas field most likely to be charged by deeper source rocks in the Mancora formation
  • Unexplored deep gas play in the TEA identified

Figure 1 – Maturation map showing expected Vitrinite Reflectance (%) in the middle of the Heath Formation. The peak oil generation zone corresponds to a range in vitrinite reflectance between 0.8 and 1.2% shown in green.

The Raya and Bonito prospects are large features in the Zorritos Formation, which present structural closure at multiple levels and the potential for stacked pay with multiple Zorritos reservoir-seal pairs present.

Based on analysis of surface outcrops, cuttings and core samples from previous wells published by Perupetro (the Peruvian national oil regulator), there are numerous potential source rock intervals in the Tumbes Basin.

The Company recently completed an interpretation of the wider regional seismic data which mapped key intervals and confirmed that the Heath Formation (Figure 1) and Mancora Formation likely sit within the maturity window for oil and gas generation respectively.


Click here for the full ASX Release

This article includes content from Condor 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.

CND:AU
The Conversation (0)
Condor Energy

Condor Energy

Rare world-class hydrocarbon exploration opportunity

Rare world-class hydrocarbon exploration opportunity Keep Reading...
Quarterly Activities/Appendix 5B Cash Flow Report

Quarterly Activities/Appendix 5B Cash Flow Report

Condor Energy (CND:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
A$3M Placement to Advance High-Impact Workplan for Peru

A$3M Placement to Advance High-Impact Workplan for Peru

Condor Energy (CND:AU) has announced A$3M Placement to Advance High-Impact Workplan for PeruDownload the PDF here. Keep Reading...
Trading Halt

Trading Halt

Condor Energy (CND:AU) has announced Trading HaltDownload the PDF here. Keep Reading...
Piedra Redonda Gas Field Best Estimate Resource of 1 Tcf

Piedra Redonda Gas Field Best Estimate Resource of 1 Tcf

Condor Energy (CND:AU) has announced Piedra Redonda Gas Field Best Estimate Resource of 1 TcfDownload the PDF here. Keep Reading...
Trading Halt

Trading Halt

Condor Energy (CND:AU) has announced Trading HaltDownload the PDF here. Keep Reading...
Charbone Annonce Les Resultats De L'assemblee Generale Annuelle Et Extraordinaire Des Actionnaires Et L'octroi D'attributions D'actions

Charbone Annonce Les Resultats De L'assemblee Generale Annuelle Et Extraordinaire Des Actionnaires Et L'octroi D'attributions D'actions

(TheNewswire) Varennes (Québec), le 23 juin 2026 - TheNewswire - CORPORATION Charbone (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (« Charbone » ou la « Société »), une entreprise verticalement intégrée spécialisée dans les gaz industriels, axée sur la production, la distribution et le stockage... Keep Reading...
Charbone Announces Annual General and Extraordinary Meeting of Shareholders' Results and Grants Equity Awards

Charbone Announces Annual General and Extraordinary Meeting of Shareholders' Results and Grants Equity Awards

(TheNewswire) Varennes, Quebec, June 23, 2026 TheNewswire - Charbone CORPORATION (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) ("Charbone" or the "Company"), a vertically integrated industrial gases company focused on production, distribution and storage of clean ultra-high purity ("UHP")... Keep Reading...
Chevron logo on glass skyscraper under cloudy sky.

Microsoft Turns to Chevron Natural Gas to Power Texas AI Data Center

Tech giant Microsoft (NASDAQ:MSFT) has signed a 20 year agreement with Chevron (NYSE:CVX) to fuel a 2.7 gigawatt artificial intelligence (AI) data center using natural gas.Dubbed Project Kilby, the as-yet-unbuilt data facility will be located in Reeves County, Texas. At full operational... Keep Reading...
Deviations from the path lead to success.

UAE OPEC Exit and the Significance of Domestic Oil Supply

The global oil market shifted dramatically on May 1, 2026, when the United Arab Emirates (UAE) formally exited the Organization of the Petroleum Exporting Countries (OPEC) after nearly six decades of membership. The decision sent shockwaves through the energy market and delivered an... Keep Reading...
Westport Announces US$10 Million Registered Direct Offering and Concurrent Private Placement Priced At-The-Market Under Nasdaq Rules

Westport Announces US$10 Million Registered Direct Offering and Concurrent Private Placement Priced At-The-Market Under Nasdaq Rules

Westport Fuel Systems Inc. ("Westport") (TSX:WPRT Nasdaq: WPRT), today announced that it has entered into a definitive securities purchase agreement for the purchase and sale of 4,854,369 common shares (or pre-funded warrants in lieu thereof) in a registered direct offering and, in a concurrent... Keep Reading...
Syntholene Completes Construction of Iceland Demonstration Facility Six Months Ahead of Schedule, Commences Operations

Syntholene Completes Construction of Iceland Demonstration Facility Six Months Ahead of Schedule, Commences Operations

Achievement of Milestone Positions Company as First to Demonstrate Geothermal Heat Integrated to Hydrogen Production for Synthetic FuelSyntholene Energy Corp. (TSXV: ESAF,OTC:SYNTF) (OTCQB: SYNTF) (FSE: 3DD0) ("Syntholene" or the "Company") announced today that it has completed construction of... Keep Reading...

Interactive Chart

Latest Press Releases

Related News