AMR is focused on appraisal and development at its Oza Field, which the company holds through a Risk Service Agreement with Millenium Oil and Gas Company Limited. Oza is located onshore in the northern part of Oil Mining Lease (OML) 11 in Nigeria’s Eastern Niger Delta (Abia State).
It is a conventional stacked sands reservoir (11 zones) with proven reserves, delineated exploration upside, and excellent infrastructure already in place, including export pipeline access. Oza is a concession that covers a 20 sq. km area of OML 11 that was carved out in 2003 as part of the Government’s Marginal Field Development Program. This is a low-risk appraisal and development opportunity on a past producing field in a region with proven hydrocarbon potential.
AMR also has an earn-in agreement on the Holt Property on Vancouver Island, British Colombia, Canada. The property has a recently completed NI 43-101 compliant technical report on the area’s prospectivity, with proven volcanogenic massive sulphide (VMS) and skarn magnetite mineralization. This is a low-cost earn-in exploration opportunity in an area with compelling geology due to historical production of gold, silver, and copper with nearby infrastructure in place.