Underlining statements made by Anzon in its recent takeover bid for Nexus Energy about Anzon's cashflow, the company announced that its share of the revenue would be $17.5 million.

This is the second delivery since 50:50 partners, Anzon and Beach Petroleum, first produced oil from the Basker-2 well last November.

The first delivery was made in January by ship-to-ship from the Basker Spirit in a sale to a Japanese trading house.

Basker-2 has been producing about 7000 bbls of oil per day. As of this week, cumulative production from the well exceeded 700,000 bbls, Anzon said.

The company said the Basker-Manta project was on track to be developed in the second half of this year into a full field development comprising five producing wells, one of which will be used as a temporary gas injector.

Anzon executive chairman Steven Koroknay said the development program was well underway, with the successfully completion of Manta-2A, and drilling starting on the Basker-3, 4, and 5 wells.

Once the full field development begins production, output rates are expected to average 25,000 bopd.

“Today’s delivery is hard evidence of the success of our drilling program in Basker-Manta and is a tribute to the Australian management, design, and fabrication of the undersea equipment,” Koroknay said.

“We look forward to the acceleration of production from Basker-Manta over the coming months and further deliveries to Australian and offshore refineries. The oil price and exchange rate are working in our favour as well.”