Challenger Energy’s Managing Director will provide a technical update on the AREA OFF-3 block during the BEOS in London on March 5, 2025. The company is making strides in reprocessing seismic data, evaluating new play concepts, and seeking a partner for the block in late 2025.
Challenger Energy, listed on AIM, has announced that their Managing Director for Uruguay, Mr. Randolph Hiscock, will give a technical update regarding the AREA OFF-3 block offshore Uruguay during the Business Exploration Opportunity Summit (BEOS) in London on March 5, 2025. The presentation will be accessible on the Company’s website at www.cepgplc.com.
The ongoing technical work program for the AREA OFF-3 block is advancing successfully, with the complete depth reprocessing of 1,250 km² of seismic data nearing completion. Initial outputs reveal significant improvements in imaging quality and data fidelity.
Once the final reprocessed 3D seismic data for AREA OFF-3 is acquired, the Company will initiate seismic interpretation, including AVO and gather analysis, and proceed with mapping and volumetric assessment.
Concurrent with this, Challenger Energy is evaluating the pre-existing 3D dataset and has matured several leads and prospects, signaling new play concepts for assessment upon receipt of the reprocessed data.
Additionally, the Company has secured multiple technical studies relevant to AREA OFF-3, such as a satellite seeps study, a geochemical seabed survey, and a multibeam echosounder seabed survey. Collectively, these studies enhance the understanding of multiple working petroleum systems in the license area, highlighting potential “sweet spots” for future exploration once the seismic data is fully processed.
Challenger Energy intends to pursue a partnership for the AREA OFF-3 block through a formal farmout process in the second half of 2025. Further updates on technical and commercial developments will follow as necessary.
Challenger Energy is progressing well with the technical work on the AREA OFF-3 block offshore Uruguay, presenting significant advancements in seismic data processing and analysis. The acquisition of supplementary studies further supports the presence of petroleum systems in the area while the plans for a formal partnership through a farmout process are set for the latter part of 2025.
Original Source: www.energy-pedia.com
