Both the Teche and Bandito prospects have been developed by Colorado-based Aspect Energy on a 1424 square kilometres of recently reprocessed and merged 3D seismic data.
Under the first farm-in, the company will earn a 15% working interest in the Bandito prospect, where drilling is due to start in October.
The well, which has a planned total depth of 3932 metres, is primarily targeting up to 42.4 Bcf of gas and condensate in Oligocene age sands. Additional potential has also been recognised in several other sands.
In the second farm-in, Target is earning a 10% working interest in the Teche prospect, where an exploration well targeting 22.4 Bcf of recoverable gas reserves is due to spud in October.
