In 2016 GOE acquired 90% working interest in Escolle Lease – 1,820 acres (7,365 dunams) that is part of Casmalia oil field – a proven oil field producing since early 20th century.
There are 2 proven target zones; The main target at depth of 900m and the secondary at depth of 1,500m.
Reserves report prepared by Netherland, Sewell & Associates, Inc. (April 25, 2018) demonstrated significant proven, possible and probable potential in total of 6.1MM BOE (WI).
Getting ready to spud
Since the acquisition, GOE has fulfilled regulatory requirements and completed technical planning for drilling, testing and producing the first wells.