Offshore Hydrocarbon (Gas and Oil) Mining Project in Grenada

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Sydney 2000 Sydney, New South Wales, Australia

9 471
$2,000,000
96539733
1 month ago

Highlights

  •  Clients and Binding Contracts Already Secured
  •  Highly Experienced Management Team.
  •  Highly Favourable Agreement Terms
  •  Project Has Been Significantly De-risked

Overview

Project Melanos is in the Carupano Basin, a well-known region in Grenada that is close to the long-standing oil & gas areas in Trinidad, Venezuela, and Guyana.

Assets:

-  GIIP (Gas Initially in Place): Over 20TCF (640 billion cubic meters)

-  Condensate/light oil: over 2 billion barrels

The project holds a development license and investor-friendly Production Sharing Agreement (PSA) covering 3,000+ square kilometres with a resources assessment of over 10TFC signed with government of Grenada for 38 years, with 100% cost recovery clause and a fixed 6% royalty, and no physical product supplies to the island.

Funding Proposal:

Project Melanos requires a total of USD $300M to complete the next phase - campaign to drill 4 wells to book reserves, test production and demonstrate cretaceous perceptivity.

The project has been significantly de-risked. Project Melanos has acquired and processed over 4500 square kilometres of seismic lines (incl. 2500square km of 3D) and drilled the first well that confirmed the presence of a working hydrocarbon system. Preliminary results are sufficiently encouraging to justify continued exploration and planning for a development of a gas project in Grenada.

Contracts already secured. Binding term sheet for gas sales has been signed with a large client. The client has committed to spending $400m on a new pipeline to the production platform.

Support from stable government. Grenada is a stable democracy, a member of the Commonwealth and largely adopted English Law. It is not an offshore or a tax heaven. The project has broad-based support from the Government.

Highly experienced management team. The founder is a highly regarded entrepreneu

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