Yesterday, the company amended its existing multi-option facility agreement with BOS International and Westpac Banking to increase the available funds by a further $20 million.
“The continued support of Anzon’s bankers demonstrates their confidence in Anzon’s management team and the Basker Manta oil development,” the company said in a statement today.
The proposed Manta-Gummy gas project will be the company’s next major development as operator, following on from the successful Basker-Manta oil project.
Anzon and Beach Petroleum each hold a half-stake in the BMG project.
An independent audit of the project by consultants Gaffney Cline & Associates estimates the new gas and gas liquids estimates are estimated at 380PJ and 19 million barrels respectively.
The gas project is likely to entail gas treatment on a floating facility rather than a land-based plant and a pipeline direct to shore.
"We are contemplating an initial flow rate of 50 million cubic feet a day and increasing from there to 100 million cubic feet a day if possible," Koroknay told
"Our target for that sort of production is a niche market like a gas-fired power station. We are looking for one customer and one relationship. The flow wouldn't provide any significant input to the wider gas grid."
