(Energy Analytics Institute, 8.Dec.2021) — Energy briefs including Fitch Ratings affirming Frontera‘s IDR at ‘B’; Orea Mining Corp. commencing preparation for a diamond drilling program at the Maripa Gold Project, located in eastern French Guiana; — Frontera spud the Jandaya-1 exploration well on the Perico block in Ecuador; and more.
LATIN AMERICA AND THE CARIBBEAN
Colombia
— Fitch Ratings affirmed Frontera‘s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘B’, the rating agency announced 7 Dec. 2021. Fitch also affirmed Frontera’s senior unsecured notes at ‘B/RR4’. The Rating Outlook is Stable.
Ecuador
— Frontera spud the Jandaya-1 exploration well on the Perico block (Frontera 50% WI and operator, GeoPark Limited 50% WI), the co. announced 7 Dec. 2021 in an official stmt. The Jandaya-1 well is expected to reach a total depth of 10,970 ft (3,344 meters) in Jan. 2022 and is targeting light oil in the Main and Upper Hollin and T Sandstone formations. The JV targets the spud of the Tui-1 exploration well on the Perico block once ops are complete at the Jandaya-1 well. The Perico and Espejo blocks are located near existing production and infrastructure in Sucumbíos Province in the NE part of Ecuador, in the Oriente basin and were awarded through Ecuador’s 2019 Intracampos Bid Round. Frontera holds approximately 16,700 net acres in the Perico and Espejo exploration blocks. The Oriente basin currently produces more than 500,000 b/d.
French Guiana
— Orea Mining Corp. (TSX: OREA) (OTCQX: OREAF) (FSE: 3CG) commenced preparation for a diamond drilling program at the Maripa Gold Project, located in eastern French Guiana, France, the co. announced 8 Dec. 2021 in an official stmt. Orea has an option to acquire up to a 70% interest in Maripa. Some 10,000 meters of diamond drilling have been approved by the State services; preparation has commenced for a diamond drilling program in 2022; 1,000 meters of drilling is planned for Jan. 2022 as an initial probe of the promising Changement gold zone, located at the north end of Maripa; access road and drill pad construction is underway; and the drilling area is readily accessed from a paved national highway traversing Maripa.
Guyana
— ExxonMobil was recognized for its efforts to build local economic capacity, protect the environment and support communities in Guyana, receiving the World Petroleum Council Excellence Award (WPCEA) for Social Responsibility, the co. announced 6 Dec. 2021 over social media.
____________________
By Ian Silverman, Aaron Simonsky and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.
