The addendum to the contract and work program will be finalized with the Ministry Working Committee over the next sixty days.
This extension period will allow continued appraisal of NW Konys field during pilot production and the exploration of the North Konys structure in the Area Extension announced on 12 January 2011.
It is now estimated that Galaz will receive all permits and approvals to start pilot production in H2 2011.
Following completion of the SSUC amendment, Galaz will apply for pilot production consent for the extension period.
Upon receipt of all emissions and production permits, production will begin immediately from the available wells, which have individual facilities.
Tendering for camp, pilot production facilities, and the first stage, development drilling campaign will commence after completion of the extension award.
