Challenger Energy Plans Update on AREA OFF-3 Block at BEOS Conference in London
Challenger Energy’s Managing Director will present a technical update on March 5, 2025, at the BEOS conference in London regarding the AREA OFF-3 block. The program is progressing with notable increases in seismic data quality and insights from various studies. The plan includes seeking a partnership for further development by late 2025.
Challenger Energy, listed on AIM, has announced that their Managing Director, Mr. Randolph Hiscock, will present a technical update regarding the AREA OFF-3 block offshore Uruguay during the Business Exploration Opportunity Summit (BEOS) in London on March 5, 2025. A copy of the presentation is accessible on the Company’s official website, www.cepgplc.com.
The technical program for the AREA OFF-3 block is showing promising progress. The full depth reprocessing of 1,250 square kilometers of seismic data is approaching completion, with initial outputs indicating substantial improvements in imaging quality and data reliability.
Upon receiving the final reprocessed 3D seismic data, the Company will initiate seismic interpretation, including AVO analysis, followed by mapping and volumetric assessment. Concurrently, the Company assessed the existing 3D dataset, leading to the maturation of prospects and the identification of new play concepts awaiting further investigation once the reprocessed data arrives.
Moreover, Challenger Energy has acquired several relevant technical studies, including a satellite seeps and slick study, a geochemical seabed survey, and a multibeam echosounder survey. Collectively, these efforts suggest the probable existence of multiple working petroleum systems within the area and highlight several strategic “sweet spots” for focus after the data reprocessing.
The Company plans to pursue a partnership for the AREA OFF-3 block through a formal farmout process in the latter half of 2025. Additional updates, both technical and commercial, will be provided as necessary.
In summary, Challenger Energy is actively progressing with its technical work on the AREA OFF-3 block in offshore Uruguay. The significant advancements in seismic data processing and complementary studies suggest a promising future for the block. The plan to seek partnership for advancement further underscores the Company’s strategic approach in leveraging its findings.
Original Source: www.energy-pedia.com
