It is thought that TIMOR GAP E.P is looking to form a joint venture and assist in financing a work programme, in its onshore application acreage in the Timor Basin, East Timor.Â  This originally consisted of three blocks, but with the award of Block A and C it is thought TIMOR GAP is still looking for a partner in Block B.  TIMOR GAP originally applied for around 3,000 sq km of acreage, under three PSCs of around 1,000 sq km each, in December 2015.Â  In April 2017 blocks A and C were awarded, with TIMOR GAP partnering with Timor Resources (operator with 50% interest), a wholly owned subsidiary of Nepean Group.  TIMOR GAP is thought to be continuing to look for a partner in Block B, which remains under application, with the company looking to farm-out around 40% interest.Â  A potential partner would carry the company through the exploration and development stages.Â  Operatorship would remain with TIMOR GAP for the exploration phase, with the partner then having the option to be operator for the development and potential first 5 years of production.Â  TIMOR GAP would resume operatorship, if the option had been taken, after the first 5 years of production.  The acreage being offered for farm-in is located onshore East Timor in the Timor Basin. It is thought prospective for oil and gas within Upper Triassic â Middle Jurassic marine sandstones.Â  Trap targets include anticlines, sedimentary pinch-outs and horst fault blocks.  PSC Block B is the middle block.Â  The work programme for this PSC includes 2D/3D seismic in year three or four and two wells, one in each of years five and seven.Â  There are also relinquishment points after years four and seven. Block B has one historical well located within it, the Tafara Timur 1 exploration well.Â  It was drilled in May 1969, and plugged and abandoned after only encountering gas shows.  Queries on the offer can be sent to procurement.dept@timorgap.com.
 East Timor TIMOR GAP Onshore Block Unipessoal Lda potentially looking for partner in its onshore application, Timor Basin 