EROMANGA HYDROCARBONS NL - ASX: ERH

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Description

Oil & Gas Operations

Brazil is one of the few countries in the world with attractive fiscal terms, a strong independent regulator and excellent prospectivity. The prospectivity in particular has been demonstrated by Eromanga's first two projects. Both were completed as future producers with total reserves and resources of around 140 mmBbl of oil in place (mid case, 100% basis).

Eromanga is working in a low cost environment. Capital costs are low because the fields are on shore and typically in flat dry country with excellent road access. Reservoirs are at shallow depths by industry standards and oil recovery is by conventional drilling and pumping operations. Because Eromanga is focussed on basins with existing production, oil and gas infrastructure is excellent and there is good access to international and local service companies.

The business environment is also excellent, since starting work in the country in 2006 Eromanga and its operating partners have completed seismic programs, exploration drilling and production testing generally on time and within budget.

Mineral Operations

Eromanga holds a 20.99% interest in the Edwards Creek Base Metals Joint Venture ("ECBMJV") which is exploring for Uranium together with Copper and Gold in South Australia.

A drilling plan has been developed by the operator at the Santorini gravity anomaly. An airborne EM survey covering 234km2 was completed on ELA 9/07 during 3Q 2007 and a ground gravity survey on EL 3790 was completed by 1Q2008.

Mine For

uranium, oil, gas, hydrocarbon

Location of operation(s)

Brazil, South Australia

Address

Level 12, 390 St Kilda Rd
MELBOURNE, VIC, AUSTRALIA

Phone

(61 3) 9867 7828

Email

Website

http://www.erohydro.com

Last Updated

04/08/2010