The Arauca Technical Evaluation Area (TEA) is a 293,992 hectare area located in the Eastern Plains Basin in the east of Colombia. Pacific Rubiales owns a 100% participating interest in this technical evaluation contract, executed by Pacific Stratus with the ANH on August 28, 2007.
Activities and Expenditures in 2007
The company is required, in the first 18-month phase of its contract, to reprocess 2,000 km 2D seismic up to PSDM, in order to design a tectonic-stratigraphic model of this part of the Llanos basin. It also is required to acquire and analyse high resolution hyper-spectral images for the identification of oil seeps and gas anomalies.
During 2007 the reprocessing of the 2,000 km of 2D seismic up to pre-stack time migration (PSTM) was completed, requiring an investment of $50,000.
Resources
Exploration resources have been calculated for three light oil play types: Antithetic faulted blocks, Pinch-outs and Paleozoic inverted structures.
Undiscovered resources have been assigned to eight prospects. Seven of the prospects are classified as deeper Paleozoic inverted structures with the eighth being shallower and classified as a Tertiary antithetic faulted blocks. A Monte Carlo simulation was used in determining the resource estimates for each prospect. The table below summarizes the volumes calculated for each lead.
The probabilities of success for the Arauca Block both in the Tertiary faulted block prospect (T-A) and Paleozoic inverted structure prospects (Pz-A through Pz-G) are outlined below:
