f Exploring an Active Transform Margin South of the Cayman Trough and the Karstified Miocene Carbonate "Akna Play Test.”

Chortis is a major continental tectonic block in the Western Caribbean. Its offshore component stretches some 750 kms between the coasts of Honduras and Nicaragua to western Jamaica. Some 50 wells were drilled across this terrain up to the early 1980’s with 73% of the wells recording hydrocarbon shows and five (5) wells flowed hydrocarbons plus several significant source rock penetrations. Seeps, shows and source data indicate two key and robust source units are present.

By contrast the deep-water basins along the southern edge of the Cayman Trough transform margin remain undrilled and modern seismic has revealed a buried Miocene carbonate platform play that is represented by a set of eight (8) structural prospects, some of which show evidence for karstified reservoir enhancement with seismic karst geometries like the carbonate plays in Mexico.

The Akna play fairway test will drill the largest of this series of Miocene carbonate prospects, where it is located over an intra-basinal high and sealed by deep water pelagic shales. Seismic studies have revealed positive DHI anomalies both across the crest of the Akna Miocene primary target and shallower in the overburden section. These DHI events may correlate to hydrocarbons found in seabed drop cores over Akna and in turn be related to the two source intervals present in this region.