Peru Onshore
Peru Block XXI – El Barco
100% Interest
The Company’s previous focus was on its blocks in Peru but the very slow pace of approvals and the economic and technical challenges of deep-water exploration caused it to withdraw from offshore Block Z-34 at the end of 2017. Baron is now continuing work on its onshore Block XXI, in the Sechura Desert of northern Peru.
Baron is involved in discussions to find a new partner who would agree to pay the bulk of the estimated $1.9 million cost of the El Barco well in order to earn a substantial interest in Block XXI. If these discussions come to a successful conclusion is hoped this well can be drilled in late 2019 to a depth of 1850 metres to test low-risk sands in the Mancora Formation and higher-risk fractured Basement. Most Likely Prospective Resources for the low-risk Mancora Sand are estimated at 6.4 BCF recoverable. The high-risk fractured Basement is estimated to be capable of containing Most Likely Prospective Resources of 7 million barrels of recoverable oil, although the prospect may contain gas and could be part of a much larger structure.
Location map, showing Baron acreage outlined in red
Depth structure map on top Basement (from 2D seismic interpretation)
Baron 2D seismic line through El Barco location (northwest is on the right)
