TAMASKA OIL AND GAS LTD Acquisition of 50% of the Parta Project, Romania
Presentation - September 2019
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This presentation has been prepared by Tamaska Oil and Gas Limited (Company), based on information available as at the date of this presentation. The information in this presentation is provided in summary form and does not contain all information necessary to make an investment decision.
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ASX:TMK | September 2019 | Page 2 |
Parta Project
- TMK is acquiring 50% of the Parta License in Romania by spending US$1.5M on a 3D seismic program
- The Parta License covers 1,155km2 in a proven oil and gas province, namely the Pannonian Basin, onshore Romania
- ADX is operator and 50% partner
- ADX are currently drilling analogue targets adjacent to Parta
- We are planning to drill several high quality targets mid 2020 based on the 3D seismic results
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Romania - Hydrocarbon Rich
- A hydrocarbon rich country, with a long history of oil and gas production
- Underexplored:
- Prior to 2005, the oil and gas industry was mostly nationalized
- Post 2005 more open, however then the GFC, and then post 2015 relatively low oil prices
- Attractive fiscal terms
- Fair and stable regulatory environment
- Established infrastructure and industry service providers
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Parta License Area History
- Historically, the State owned company Petrom held all oil and gas rights in Romania
- Petrom mainly used 2D seismic in the License Area
- Several oil and gas fields were discovered by Petrom, which were brought into production
- Overall, Petrom had a light focus on the License Area given its ownership across the whole country
- No meaningful activity in the License Area since Petrom
- The historical Petrom production represents several small carve outs in the License Area
ASX:TMK | September 2019 | Page 5 |
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Tamaska Oil and Gas Limited published this content on 04 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 September 2019 02:41:04 UTC
