Shoats Creek is Mayan’s highest priority upstream project due to the significant number of low risk, low cost initiatives identified by management as having the potential to add significant production and value. Mayan’s confidence in Shoats Creek’s company-making credentials was strengthened with the successful drilling of LM #20.
Following positive testing periods, management is planning to bring additional existing wells back online following low cost modernisation initiatives. The Company also plans to monetise the untapped natural gas opportunity present at the licence by gaining access to a natural gas line. This would create an additional revenue stream from the field.”