Assets

Overview of
Target Opportunities

MARIA CONCHITA (80% WI)

  • Gas Production: Commenced from the Aruchara-1 and Istanbul-1 wells starting at 3.5 MMcf/d with production volume expected to ramp to 16 MMcf/d
  • 2P Reserves of 27.7 Bcf
  • Best Estimate Gross Prospective Resources (prospects) Unrisked 155.9 Bcf (Risked 31.4 Bcf)
  • Additional exploration wells planned at Maria Conchita starting with Tinka-1 – Q1 2023

SINU-9 (72% WI)

  • Gas Discovery: Tested 15 MMcf/d from three zones at Magico-1X
  • Best Estimate Contingent Resources of 37.0 Bcf
  • Best Estimate Prospective Resources (Prospects) Unrisked of 602.2 Bcf (Risked 182.4 Bcf) and Prospective Resources (Leads) of 459.0 Bcf
  • Spudding of Brujo exploration well – Q3 2022

TIBURÓN (10-40% WI)

  • Blue sky exploratory asset with excellent natural gas exploration potential; NG intends to shoot seismic and possibly farm-out

Maria Conchita

The Maria Conchita field is located in the Guajira Basin on Colombia’s Caribbean coast. The property neighbors one of the largest natural gas deposits in Colombia, the Chuchupa field, with more than 900 MMboe in reserves and accounting for 40% of Colombia’s daily natural gas output . The Ballena–Barrancabermeja pipeline is located just 14km from the Marica Conchita property and is one of several TGI networks servicing the country with Natural Gas.

Prospective Resources

  • Best Estimate Gross Prospective Resources (prospects) Unrisked 155.9 Bcf (Risked 31.4 Bcf)
  • The Maria Conchita Block has 2P Reserves of 27.7 Bcf

Drilling & Re-Entry Plan

1. Aruchara-1

  • Successful re-entry in July 2020
  • 7-11 MMcf/d through separate DST tests in 3 different zones with 48/64” choke
  • Production commenced Aug-2022

2. Istanbul-1

  • Re-entered in Q2-21
  • Production commenced Aug-2022

3. Tinka-1

  • Well re-entry
  • Timing TBD
  • Originally drilled by Ecopetrol in 1988
  • Offering great potential for re-entry

4. LOC-1

• New drill
• Timing TBD

5. LOC-2&3

• New drill
• Timing TBD

6. Tinka-2&3

• New drill
• Timing TBD

A recent study has helped identify new zones of possible accumulations in the limestone of the Tinka area and the sandstones of the Istanbul-1, Aruchara-1 and Tinka 1 area. This study has identified five new possible locations to be drilled for the field development and the benefits to re-enter Istanbul-1 and Tinka 1.

Sinu-9

The Sinu-9 Block covers an area of 311,353 acres and is located in the north part of Colombia sharing area in Lower Magdalena and San Jacinto basins, two of the basins with the largest gas and light oil potential in the country. The region has excellent infrastructure with open access to national oil and gas pipelines, 50km port access, and coverage of a reliable electricity grid.

Flagship Upside Property

  • Canacol’s block to the East has booked natural gas reserves of 559 Bcf and production of 200 MMcf/d
  • Hocol drilled the Arrecife well on its property to the south-west of NG Energy. Test results showed gas production of 3-10 MMcf/d with no production of water
  • The Area has excellent infrastructure with open access to national oil and gas pipelines, and coverage of a reliable electricity grid
  • Best Estimate Contingent Resources of 37.0 Bcf

Exploration Potential

  • Best Estimate Prospective Resources (Prospects) Unrisked of 602.2 Bcf (Risked 182.4 Bcf) and Prospective Resources (Leads) of 459.0 Bcf

Phase 1 Exploration

Development Area

Tiburón

The Tiburón block is in the Upper Guajira on Colombia’s Caribbean coast and belongs to the same basin as the Chuchupa block to its south, one of the most prolific gas blocks in Colombia. Tiburón holds various similarities to the massive offshore Perla and Orca discoveries in Venezuela and Colombia. The team intends to shoot a seismic survey and then evaluate next steps. Due to the high scale nature of the territory, management will most likely consider a farm-in partner to help develop the block

Blue Sky Exploratory Asset

  • The Tiburón block shares the same territory as Chuchupa (6 Tcf), Perla (16 Tcf) and Orca (6 Tcf) fields which are located offshore
  • The Tiburón field is located onshore and is considered a low risk area for operations
  • The field contains highly prospective structures similar to that of the Perla and Orca-1 discovery
  • NG intends to shoot a seismic survey and look for a farm-in partner

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Latest News

NG ENERGY ANNOUNCES RESERVES AND RESOURCES RESULTS ON THE MAGICO-1X WELL IN SINU-9 BLOCK
September 2, 2022
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NG ENERGY ANNOUNCES 38,300 SHARES PURCHASED UNDER NCIB
August 15, 2022
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