Challenger Energy’s Managing Director will present updates on the AREA OFF-3 block’s technical work at the BEOS conference in London on March 5, 2025. The reprocessing of seismic data is nearing completion, indicating improved imaging quality. The Company aims to find a partner for the block in late 2025 and will provide further updates as necessary.
Challenger Energy, an AIM-listed company, announced that on March 5, 2025, Mr. Randolph Hiscock, the Managing Director for Uruguay, will deliver an update regarding the technical work for the AREA OFF-3 block located offshore Uruguay. This presentation will take place at the annual Business Exploration Opportunity Summit (BEOS) in London. Interested parties may access a copy of the presentation on the Company’s official website, www.cepgplc.com.
Mr. Hiscock’s presentation will highlight the progress of the technical work program for the AREA OFF-3 block, especially noting that the full-depth reprocessing of 1,250 square kilometers of seismic data is nearing completion. Early outputs from this reprocessing are showing a significant improvement in imaging quality and data fidelity, which is essential for further analysis.
Upon receiving the reprocessed 3D seismic data for AREA OFF-3, the Company will initiate seismic interpretation along with amplitude versus offset analysis. This will lead to mapping and volumetric assessments crucial for evaluating the potential of the block. Concurrently, Challenger Energy has reviewed the existing 3D dataset, resulting in the identification of several leads and matured prospects for new play concepts.
Furthermore, the Company has acquired complementary technical studies and datasets pertinent to AREA OFF-3. These include a satellite seeps and slick study, a geochemical seabed survey, and a multibeam echosounder seabed survey. Collectively, these initiatives support the likelihood of multiple working petroleum systems within the license area and highlight potential “sweet spots” for future exploration.
Challenger Energy’s strategic intention is to pursue a partnership for the AREA OFF-3 block through a formal farmout process in the latter part of 2025. The Company will continue to provide further technical and commercial updates as necessary.
In summary, Challenger Energy is making significant strides in the AREA OFF-3 block’s technical work program, with important reprocessed seismic data expected shortly. The results from initial analyses are promising, indicating new play concepts and potential working petroleum systems. Looking ahead, the Company aims to formalize a partnership for the block in 2025, as they continue to enhance their technical capabilities.
Original Source: www.energy-pedia.com
