Global Oil & Gas

Tumbes Basin TEA Update

Global Oil & Gas Limited (ASX: GLV) (Global or Company) is pleased to provide an update on its Tumbes Basin TEA project offshore Peru.


Highlights

  • Acquisition of comprehensive historical dataset complete, including more than 3,800 km2 of 3D seismic data.
  • Only one exploration well has been drilled in the 4,858km2 TEA area using 3D seismic data.
  • Opportunity to explore a proven hydrocarbon bearing basin which remains virtually undrilled using modern 3D seismic data.
  • The Company will now reprocess an aggregate of 1,000km2 of 3D seismic, targeting highly prospective area(s) with a view to refining advanced exploration targets and to allow the deployment of Quantitative Interpretation and Artificial Intelligence based interpretation methodologies.

Global’s US based Joint Venture partner, Jaguar Exploration Limited (Jaguar) has obtained over 3,800km2 of 3D seismic data covering more than 66% of the Tumbes Basin TEA area (Figure One).

Figure 1: Tumbes Basin TEA database

In addition, more than 7,000 km of 2D seismic data and information from more than 50 wells relevant to the TEA area have also been received as well as numerous technical studies and independent resource and reserve audits. This information will be collated and incorporated into a prospectivity study which is now underway.

Despite the many discoveries of oil and gas made within and immediately adjacent to the Tumbes TEA it is significant to note that only two wells have been drilled since these 3D seismic data were acquired. One of those was a step-out well on an existing field to test the downdip extent of the oil column while the other was a genuine exploration well. The Tumbes TEA therefore presents the Company with a rare opportunity to explore a proven hydrocarbon basin which remains virtually unexplored using modern 3D seismic data.

The Jaguar technical team have started work on the first phase of the interpretation project. The next milestone will be to high-grade areas within the Tumbes TEA where the 3D seismic data will undergo reprocessing. This should improve the fidelity of the data.

The processing algorithms being used are designed to optimise the impact of new Quantitative Interpretation and Artificial Intelligence methodologies that will be used as part of the prospect definition process.

The plethora of seismic data and identification of technical studies and independent audits detailing resources for several prospects inside the block is a significant step forward for the Company in advancing the Peruvian offshore opportunity.

Further updates will be provided once the high-graded areas are defined.


Click here for the full ASX Release

This article includes content from Global Oil & Gas Limited, 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.

GLV:AU
The Conversation (0)
Coelacanth Energy President and CEO Rob Zakresky.

Coelacanth Energy CEO Targets 50,000 BOE/Day as Montney Resource Expands

Coelacanth Energy (TSXV:CEI) is targeting an eventual production ramp up to 50,000 barrels of oil equivalent (boe) per day as more zones at its Montney oil and gas project in BC, Canada, continue to be de-risked, according to the company’s president and CEO, Rob Zakresky

“So the de-risking of the top two zones allows us to, what we predict, go to 50,000 boe per day, and then hold that flat for a long period of time. What we need to do now is take the other zones and apply more work and more capital to those … And as we see the 500 locations today, that may expand over a period of time and change how we develop the asset.”

In the near term, Zakresky said the company has several wells ready for production, following the recent completion of a production facility, allowing a systematic ramp up to about 7,000 to 8,000 boe per day by October. He noted that future growth to 16,000 boe per day over the next couple of years would depend largely on commodity prices and available capital.

Keep reading...Show less
Alvopetro Announces Q3 2025 Dividend of US$0.10 Per Share

Alvopetro Announces Q3 2025 Dividend of US$0.10 Per Share

Alvopetro Energy Ltd. (TSXV: ALV,OTC:ALVOF) (OTCQX: ALVOF) announces that our Board of Directors has declared a quarterly dividend of US$0.10 per common share, payable in cash on October 15, 2025 to shareholders of record at the close of business on September 30, 2025 . This dividend is designated as an "eligible dividend" for Canadian income tax purposes.

Dividend payments to non-residents of Canada will be subject to withholding taxes at the Canadian statutory rate of 25%.  Shareholders may be entitled to a reduced withholding tax rate under a tax treaty between their country of residence and Canada.  For further information, see Alvopetro's website at https://alvopetro.com/Dividends-Non-resident-Shareholders .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Insider Loan to Corporation

Insider Loan to Corporation

VVC Exploration Corporation, dba VVC Resources, ("VVC"), (TSX-V:VVC and OTCQC:VVCVF) announces the following events.

Loan from Chairman

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Canadian flag waving near a clock tower with clear blue sky.

Canada's First Set of Nation-Building Projects Paves Way for Mining, Energy Operations

Canadian Prime Minister Mark Carney has announced the country's first five nation-building projects.

In March and April, the Build Canada Strong platform was a cornerstone of Carney’s election campaign, which came amid increasing trade tensions between Canada and the US. Among his promises was to create a Major Projects Office (MPO) that would review projects deemed to be in the national interest.

That office was established over the summer, with a release saying it would be headquartered in Calgary and overseen by former TransAlta (TSX:TA,NYSE:TSE) and Trans Mountain CEO Dawn Farrell.

Keep reading...Show less
Hydrogen pipes in a green grass field on a sunny day.

Hydrogen Stocks: 9 Biggest Companies in 2025

Hydrogen stocks are enjoying momentum as the world moves closer to a green energy future.

The most abundant element on Earth, hydrogen is a colorless gas. It can be produced in liquid form and burned to generate electricity, or combined with oxygen atoms in fuel cells.

In this way, hydrogen — which produces no carbon emissions — can replace fossil fuels in household heating, transportation and industrial processes such as steel manufacturing. Rising demand for carbon-free energy sources alongside significant new government policies are driving growth in the hydrogen market.

Keep reading...Show less
CORRECTED: CHARBONE Hydrogen is Acquiring Hydrogen Production Assets and Closing a First Tranche of $1M Private Placement Financing

CORRECTED: CHARBONE Hydrogen is Acquiring Hydrogen Production Assets and Closing a First Tranche of $1M Private Placement Financing

(TheNewswire)

Brossard, Quebec TheNewswire - September 5, 2025 Charbone Hydrogen Corporation (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE "), a company focused on green hydrogen production and distribution, is pleased to announce it has signed, on September 4, 2025, an Asset Purchase Agreement to acquire operational hydrogen production and refuelling equipment in Quebec. The strategic acquisition will enable CHARBONE to fast-track the commissioning of CHARBONE's flagship Sorel-Tracy facility phase 1 and empower CHARBONE to produce and deliver first industrial high purity hydrogen (UHP) sales in the upcoming quarter.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×