Finder Energy Holdings (ASX:FDR) said dynamic reservoir modeling predicts an initial production rate in the range of 25,000 to 40,000 barrels of oil per day, depending on facility constraints, at its Kuda Tasi and Jahal oil fields offshore Timor-Leste, according to a Wednesday Australian bourse filing.
The model forecasts that 10 million barrels of oil would be produced in the first 18 months of production.
The modeling was conducted by Finder and Tyke Petroleum Consultants.
Flow testing of the Kuda Tasi-2 appraisal well demonstrated the potential for flow rates of over 20,000 barrels of oil per day per production well.
The firm started discussions with oil traders in Asia, noting the light sweet crude from oil fields would be sold to refineries in the region.
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