On 6 March 2018, Petrolera Cardenas Mora, S.A.P.I. de C.V., a Cheiron Holdings Limited subsidiary, was granted an official award by the CNH for the CNH-A3.Cardenas-Mora/2018 contract from the CNH-A4-Cardenas-Mora/2017 farm-out bid round for the 168.46 sq km Cardenas-Mora block in the onshore Sureste Basin.Â  Petrolera Cardenas Mora has a 50% working interest in the contract and is the operator and PEMEX has a 50% non-operated working interest. The contract is a license contract with a 25 year development phase and two possible five year extension periods.Â  The minimum work program has been set at 7,844 work units equivalent to USD 8.5 million at an oil price of between USD 60 to USD 65/bbl.Â  The JOA for the Cardenas-Mora license contract has Petrolera Cardenas Mora paying PEMEX a fee of USD 125 million for previous work conducted in the block. Â  Â 
Egypt's Cheiron Holdings operatorship and 50% in the CNH-A3-CÃ¡rdenas-Mora/2017 block.