Lying between its wholly-owned Pancho Rico and Lombardi blocks, the Glau lease has only been lightly explored, with one stratigraphic test well drilled and limited seismic coverage.
The company said the well had confirmed the presence of moveable oil within the reservoir interval that is produced in the North San Ardo oilfield, situated directly south of the Glau Block.
The available seismic data also suggested that the field may extend into the lease.
Neon
