Through our subsidiary Lalea Energy, we obtained the production license for the Bobocu gas field. Discovered by Romgaz in 1962 and developed in the early 1980s, has an initial recoverable reserve estimate of 48 BCF, with a remaining gas in place of 32 BCF. Of this, approximately 19 BCF is considered recoverable.

Over its operational life, 35 wells were drilled, of which 15 were actively producing. The field was relinquished in 2001 and subsequently acquired by Zeta Petroleum. In 2019, Claren Operations Ltd farmed in for a 40% interest and became the full concessionaire in 2020. Lalea Energy BV later acquired Claren Operations Ltd in exchange for undertaking field redevelopment and an overriding royalty agreement.

Significant untapped reserves remain in the field, primarily stored in undrained sections of the five upper reservoirs, attic gas, and previously discovered pay zones that were never produced due to operational limitations. Advanced drilling and production technologies are expected to recover these gas reserves efficiently.

The field’s major upside potential lies in three deeper, undrilled structures beneath the existing reservoirs. These structures hold an estimated 28.6 BCF of recoverable gas, presenting a significant opportunity for future development and expansion of production at Bobocu.