Offshore staff
STANLEY, Falkland Islands – Argos Resources has secured a 12-month extension from the Falkland Islands government to its PL001 license in the offshore North Falkland basin.
The new expiry date is May 1, 2022.
Argos has a commitment to drill one exploration well by the end of the license’s second term. Chairman Ian Thomson said: “Our intention is to secure partners and commence exploration drilling as soon as possible.”
Based on 3D seismic the company has identified various vertically stacked sandstone prospects of a similar age to the nearby Sea Lion, Casper, Casper South, and Beverley stacked discoveries.
Several could be tested with a single exploration well drilled to a depth of 2,900 m (9,514 ft): the three main prospects are the Rhea Stack, Kratos Stack, and Helios Stack.
The Rhea Stack is northwest of the Harbour Energy-operated Sea Lion oil field in 467 m (1,532 ft) water depth. Reservoir objectives are a vertically stacked sequence of Early Cretaceous turbidite sandstones derived from a delta system to the north.
04/29/2021
