E-17 is a drill ready, low risk shallow water prospect in an area with a proven petroleum system. Odin Energi present this opportunity for early entry into an area with nearby producing field analogues. The prospect is covered by 2D and recently acquired 3D seismic with a reserves potential of 85 mmbo. The location provides for excellent reservoir and a mature source rock and farmees would benefit from the ability to build a wider regional position is desired. The shallow water means an exploration well cost estimated $16-20 MUSD for a 2021 well. Latvia benefits from excellent fiscal terms, business environment (EU) and licensing regime. Regional infrastructure and short distance to shore would enable rapid development in a success case with high value barrels.
