A Technical Advisory Committee (TAC) virtual meeting took place on March 23, 2022, with the purpose of revising Monitor’s work undertaken in the past 2 years and update the Ministry of Mines and Energy (MME) and NAMCOR, who partner with 10% in the licence. Both MME and NAMCOR expressed their satisfaction in Monitor’s progress and the skillful use of the available datasets to add significant value to our asset. Monitor presented the integration work carried out with the legacy data and the newly acquired passive seismic and remote sensing studies. Further 750 km seismic lines and 2 well-logs were purchased and analyzed to tie the wells to Monitor’s AOIs for more de-risking. The generated resource estimate claims a billion-barrel plus potential with 350 mln barrel immediately drillable prospect.
TAC meeting: Monitor, MME and Namcor
Monitor introduced its programme for the upcoming 6 months, which mainly includes finalizing the Environmental Impact Assessment to allow us to commence the acquisition of new 2D seismic in our AOIs. The Committee approved the proposed programme as well as the deriving financial commitment. During the meeting, all parties confirmed that community engagement is an important aspect of the work in the region. Not only did Monitor agree with that, we have already started with this undertaking by involving the leaders of the local population, holding informative gatherings with the local population, engaging with their concerns and provide necessary reassurances. Monitor is very pleased with its collaboration with the MME and NAMCOR, and their continuous support and encouragement. The TAC will reunite in 6-month time.