Hokchi suspended as a potential new pool oil discovery the Xaxamani 2EXP new-pool wildcat (NPW) in the CNH-R03-L01-AS-CS-15/2018 contract in the offshore Sureste Basin during late-September or early-October 2019 and an unreported final total depth (TD).     Partner Talos reported on 6      November 2019 that the Xaxamani 2EXP had 45 m of gross pay with 35.1 m of      net pay in two shallow oil sands.   The CNH reported that the well      was an oil producer on 22 October 2019 without any details.   Hokchi tested the well in      August and September.   The partners planned to conduct      a drill-stem test (DST) prior to moving the rig to drill the Tolteca      prospect in the block.     The NPW      spudded in late-July 2019 and reached an unreported total depth (TD) in      early-August 2019.  The      NPW had a proposed total depth (PTD) of 910 m.   The      prospect had a primary target in the Lower Pliocene, from 751 m to 784 m      and 810 m to 841 m.   The      well was drilled by the Borr Drilling âOdinâ J/U in a water depth of 19m.          The      NPW is located in the south-eastern area of the block approximately 570 m      south-west of the Xaxamani 1 non-commercial oil well drilled by PEMEX in      2003.   The      unrisked prospective resources are reported to be 43.6 MMboe.  The      drilling cost for the Xaxamani 2EXP NPW is USD 18.42 million and the      completion cost is estimated to be USD 17.93 million.  On      12 July 2019, the CNH approved the drilling permit request submitted by      operator Hokchi for the Xaxamani 2EXP new-pool wildcat (NPW).  Hokchi      is operator of the contract with 75% working interest and lone partner      Talos with 25%.    On 12 July 2019, the CNH approved a modification to the exploration plan submitted by operator Hokchi on 31 May 2019 for the CNH-R03-L01-AS-CS-15/2018 contract in the offshore Sureste Basin.    The approved      modified exploration plan includes the confirmation of the Xaxamani 1      discovery on the block through the drilling of the Olmeca prospect, now      named the Xaxamani 2EXP well with a modified location with respect to the      discovery well. If successful, then there will be an evaluation plan      proposed. The operator maintained two possible drilling scenarios for the      block pending results of the Olmeca prospect.    On 12 April 2019, the CNH officially approved of the Talos farm-in to the Hokchi operated CNH-R03-L01-AS-CS-15/2018 contract. The new working interest breakdown in the contract is Hokchi operator with 75% working interest and Talos with 25% working interest.   On 27 June 2018, Hokchi Energy (Pan American) with 100% working interest was granted an official PSC contract award for the 264.24 sq km CNH-R03-L01-AS-CS-15/2018 contract from the CNH-R03-L01/2017 Bid Round. The company bid the maximum state take of 65.00% over the minimum of 22.5% for the Area 31 block and a work units factor of 1 equivalent to one well. There were two other bids for the block. The second highest bidder was the consortium of ENI and Lukoil who bid 42.35% state take and 1 additional work units factor. On 27 March 2018, Pan American Energy with 100% working interest was granted a preliminary award for the contract.
Mexico (Salina Sub-basin (Sureste B.)) Xaxamani 1