Berlanga is understood to have completed operations at wildcat WS B (M-08 E1) in block M-08, Moattama Basin, around mid-April 2020, with results unreported. The well had a PTD of approximately 1,100 m.  As of early April 2020, operations were ongoing at a drilled depth of approximately 450 m. The well was spudded in late March 2020 using the "Noble Clyde Boudreaux" S/S, which was mobilized to the drilling location in mid-March. The rig had been contracted to drill one firm and one optional well in the shallow water area of the block. It is understood that the optional well will not be drilled.    The WS prospect is a faulted four-way dip closure within Lower-Middle Miocene Upper Burma Limestone. Unrisked recoverable reserves in the prospect are estimated by Berlanga at 2.1 Tcf (Pmean). WS is located at a water depth of approximately 120 m. Geological Chance of Success (GCOS) has been estimated at 39%. According to the operator, key risk factors for this prospect are hydrocarbon charge and retention.  The significance in the M-08 drilling programme lies in testing the southward extension of the Miocene carbonate play which has been proven successful by Total's Yadana field in block M-05, located over 100 km north. Shallow gas (possibly from Plio-Pleistocene sands) was considered by Berlanga as a potential drilling hazard for this campaign.  The second target identified in the block is the SR prospect, located 40 km southeast of WS in about 200 m of water. SR is a faulted Miocene carbonate buildup within Upper Burma Limestone. Unrisked recoverable reserves for SR are estimated by the operator at 305 Bcf (Pmean), with a GCOS of 46%. The SR prospect could be in communication with a nearby structure ("GR") providing further upside.  Berlanga had indicated an estimated cost of USD 30 million for the full two-well programme. In case of commercial success, the nearest potential tie-in options are represented by the Yadana field and PTTEP's Zawtika field located 150 km east in block M-09.  Berlanga likely conducted a sea floor site survey for the proposed well locations between November and December 2019. The contract for the survey was awarded to PTSC Geos and Subsea Services Company (PTSC G&S) in September 2018.  Information as of October 2019 indicated that the operator was going through a tender process to identify a rig suitable to operate at water depths between approximately 100 and 300 m.  It is understood that the initial drilling scoping report was submitted to the government in January 2017. The report was resubmitted in August 2017, to incorporate revisions by the Myanmar Environmental Conservation Department.  In addition to WS and SR, an additional 15 prospects have been identified in the shallow-water part of the block, with upside potential of up to 7 Tcf. The prospects have been likely matured from the interpretation of a 3D seismic survey conducted by the company in 2016. Approximately 3,100 sq km of 3D seismic data were acquired using the âPGS Apolloâ survey vessel in the first half of the year. The new data, which covered the eastern part of the block, were processed with pre-stack time migration in October 2016.  Water depth in block M-08 ranges from less than 100 m in the northeastern part, to more than 600 m at the southwestern edge. Only one well has been drilled in the block to date, M-08A 1 by Total in 2000 (dry).  A PSC for block M-08 was officially signed on 5 December 2014 and right holders are Berlanga Holding BV (95%, operator) and A-1 Mining Company (5%). The initial study period for the block expired in October 2018 and was subsequently extended by 1.5 years, to March 2020.  Background Information  Block M-08 is well located with respect to potential Middle and Lower Miocene (Upper Burman Unit) carbonate buildups on trend with the producing 5.8 Tcf Yadana field to the north and Pliocene to Miocene delta front clastics from the Zawtika Development Project to the east. The block contains a single dry well drilled by the previous operator Total in February 2000.  Block M-08 was first explored by Total EP Myanmar after being awarded in January 1997 with eight years exploration period, which expires on January 2005. In January 2000, Total EP Myanmar drilled its first well in the country, M-8 A1, targeting the Oligocene to Lower Miocene carbonates. The well was plugged and abandoned after the carbonate reservoir was found water bearing sighting hydrocarbon charge as the main risk in petroleum prospecting. Interest holders in the block were Total Myanmar Exploration and Production (operator with 36.75%), Unocal Myanmar Offshore Co Ltd (33.25%) and PTTEP (30%). PTTEP acquired its 30% interest through a farm-in in July 1997.   Russian firm Zarubezhneft JSC and joint venture partners Russia's Itera Group and India's Sun Group then picked-up the block and signed a PSC with MOGE for block M-8 in April 2006, after the relinquishment by Total. But then in June 2007, operator Zarubazhneft withdrew from the block, allowing Ngwe Oil and gas, a joint venture company set up by Russia's Itera Group and India's Sun Group, to hold 100% operating stake in the block. Between March and April 2008, Ngwe Oil and Gas acquired 3,500km of 2D seismic over the block as part of its work commitment. Ngwe Oil & Gas relinquished the block in September 2011 with no exploration wells were drilled.  Berlanga was awarded block M-08 following the First Offshore International Bidding Round 2013. The production sharing contract was signed in December 2014 between MOGE Managing Director-U Myo Myint Oo, Berlanga Myanmar Pte Ltd â Mr. Johannes Hans Braakman and A-1 Mining Company-U Yan Win. MOGE received signature bonus of USD 15 million and USD 500,000 for data fee. The PSC carried a one-year feasibility study period and six-year exploration period (two phases). Berlanga is planning to spend USD 153 million during the PSC period.
M8-E1 (Whale South) (Berlanga Myanmar 95% op, A-1 Mining Co Ltd 5%) in M-8 block P&A, dry (unsuccessful TBC), TD of 960m within the Miocene carbonate section (Lower Miocene Upper Burman limestone objectives).