In May 2019 Telpico continues to offer interest in its VSM-22 Block of the Upper Magdalena Basin. The Yaguara (Los Mangos) field is located on the blockâs eastern border and the primary objective is the Cretaceous Caballos Formation. This sandstone is overlain by the La Luna/Villeta Shale, a world class source rock and target for unconventional plays. In 2014, Telpico identified the Hidalgo Prospect from high quality 3D seismic acquired on the VSM-22 and recoverable reserves are estimated between 21-25 MMbo. With block expiration scheduled for August 2020, plans to drill the Hidalgo prospect are slated for June 2019. Telpico is offering a 49% working interest with a potential partner to pay a USD 2.5 million buy-in cost. The deal also includes the partner to pay 100% of the initial well test costs for the 49% working interest. Interested parties should visit the website at www.telpico.com.
Telpico continues to offer interest in its VSM-22 Block of the Upper Magdalena Basin. The Yaguara (Los Mangos) field is located on the blockâs eastern border and the primary objective is the Cretaceous Caballos Formation.