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Sierra Oil & Gas Announces Major Oil Discovery Offshore Mexico
Preliminary analysis indicates the presence of a contiguous oil bearing interval of over 1,100 feet (335 meters) gross, with net pay of over 650 feet and no identified oil-water contact. Initial oil in place estimates for this target formation, which could extend into to a neighboring block, range from 1.4 to 2.0 billion barrels. Hydrocarbon samples recovered to surface contain light oil, with API gravity of 28-30.
Sierra Oil & Gas is Mexico's first independent oil and gas company. Over the last two years, Sierra, in partnership with world-class operating partners, has secured five upstream blocks in Mexico's offshore licensing tenders.
REL is a closed-ended investment company that invests exclusively in the global energy industry, with a particular focus on the exploration & production and midstream sectors. REL aims to capitalise on the opportunities presented by Riverstone's energy investment platform. REL is a member of the FTSE 250 and its ordinary shares are listed on the
For further details, see www.RiverstoneREL.com
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