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Parta Project Farm-in Onshore Romania

  • TMK has acquired the right to earn a 50% interest in the Parta exploration licence, covering 1,155km2 in a proven oil and gas province, onshore Romania
  • TMK will fund the first US$1.5 million of a new 3D seismic program, with seismic acquisition to commence Q4 2019
  • The 3D seismic is likely to generate high quality targets with multiple stacked oil and gas pay zones (less than 2,500m depth), with intent to drill several targets next year
  • Recent track record of high success rates by other companies drilling on new 3D seismic in the province
  • Partner and licence operator ADX Energy (ASX: ADX) is currently drilling an adjacent appraisal well testing analogue targets
  • Low cost operating environment; established infrastructure nearby; strong domestic demand for oil and gas
  • Long history of oil and gas production in Romania; attractive fiscal terms; stable and fair regulatory environment
Figure 1: Map of the Parta Licence area and proposed new 3D seismic area Image courtesy of ADX Energy (Farm-in Partner)

COMPANY PROFILE

It is the Company’s aim to maximize returns on funds invested. The Company will undertake investments that it sees as being able to generate significant commercial returns through strategic investments and acquisitions in the oil and gas sector.

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LATEST ANNOUNCEMENTS

September 08,2020PARTA PROJECT FARM-IN NOT PROCEEDING Download PDF

September 08,2020ADX: Parta Exploration Farmin UpdateDownload PDF

July 31,2020June 2020 Quarterly Activities and Cashflow ReportDownload PDF

May 01,2020March 2020 Quarterly Activities and Cashflow ReportDownload PDF

March 12,2020Half Year ReportDownload PDF

January 31,2020Dec 19 Quarterly Activities and Cashflow ReportDownload PDF

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