The Tofu prospect is located in the Gulf of Mexico and has an upside potential of 495 million BOE Gas, Mean Reserves of 150 million BOE Gas. Chevron U.S.A. Inc., a subsidiary of ChevronTexaco, is offering the Tofu prospect in the Western Gulf of Mexico. The Tofu Prospect is ready to drill and has been MMS Approved. It is a 3D imaged salt flank closure in the emerging Miocene Gas Trend of the western Gulf of Mexico deepwater province. The prospect comprises three contiguous offshore tracts (Port Isabel 37, 38, and 82) which are located in north central Port Isabel and just south of the boundary between the Port Isabel and Corpus Christi protraction areas. The objective section is at 14,000 to 20,000 feet SS in 2300 feet MSL. Chevron U.S.A. is 100% leaseholder all three of the blocks. All three leases have a 5/8 lease term and will expire on September 30, 2002 if a well is not spudded on or before the expiration date. ChevronTexaco is seeking an interested party to drill the Tofu Prospect at 100%, with ChevronTexaco retaining a 6% ORRI on the three blocks.
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