As of 11 September 2019, Perupetro officially launched one block for bidding in the Ucayali Basin on 9 September 2019. The block, called Block 201 is located in the central part of the Ucayali Basin north of TEA Area LXVI and just west of the Peru/Brazil border. There have been four wells drilled in the current configuration of the block which have been included in the table below. According to Perupetro four companies have expressed interest in the block.   The companies expressed interest in the Sheshea structure potential. Petrominerales drilled wildcat Sheshea-1X, light oil was discovered, 45Â°API, the well was temporarily P/A at Copacabana and Cushabatay formations, TDâd at 8,924 ft in Sep-2012.  Once awarded the block will have a term of seven years carried out over four phase which are as follows:  Phase One will be for one year and requires a resource study evaluation of the Sheshea structure and potential development. The study should include a geochemical analysis, modeling of the oil system and resource evaluation study of other leads.  Phase Two will be for two years and require the winner to acquire 320 km of 2D seismic.  Phase Three will also be for two years and require the drilling, testing and completion of a confirmation well to the base of the Cretaceous and acquire 100 sq km 3D seismic.  The last Phase Four will run for two years and require one exploration well or one confirmation well drilled to the base of the Tarma Copacabana Formation at 6,234 ft.  The time table for the bid round is as follows:          Bid Round Process            Â             Â                Â             Steps            Start            End               1            Reception   of offer letters            9/9/2019            11-Nov-19               2            Reception   of questions            9/16/2019            7-Oct-19               3            Response   to Questions            10/9/2019            30-Oct-19               4            Closing            10:00   AM            11-Nov-19               5            Award            10:00   AM            20-Nov-19               Source:   IHS Markit            Â             Â©   2019 IHS Markit          Â           Previously Drilled   Wells            Â             Â             Â             Â             Â             Â             Â                Well   Name            Operator   Name            Former   Contract Name            Td   Meter            Elev   Meter            Spud   Date            Comp   Date            General   Status            Bh   Age               La   Colpa 1X            Occidental   Petrolera del Peru Inc            Block   36            2926            318            26-Nov-88            8-Mar-89            P&A/Suspended   Oil            Mississippian               La   Colpa 2X            Petrominerales   Ltd            Block   126            2591            270            1-Dec-11            1-Apr-12            P&A/Susp   Dry/Shows            Â                Shahuinto   1            Pangaea   (Peru) Energy Ltd            Block   71            2171            274            5-Nov-98            18-Dec-98            P&A/Susp   Dry/Shows            Precambrian               Sheshea   1X            Petrominerales   Ltd            Block   126            2720            290            19-Jul-12            21-Oct-12            P&A/Suspended   Oil            Â                Source:   IHS Markit            Â             Â             Â             Â             Â             Â             Â             Â© 2018   IHS Markit
As of 11 September 2019, Perupetro officially launched one block for bidding in the Ucayali Basin on 9 September 2019. The block, called Block 201 is located in the central part of the Ucayali Basin north of TEA Area LXVI and just west of the Peru/Brazil border. T