b'FINANCIAL AND OPERATIONAL PERFORMANCE 2019InstitutionalDiscoveryIn the last quarter of 2019, Apache spudded the first exploration well in Block 58. On January 7, 2020 Apache and Total, who acquired a 50% interest in the block in December 2019, announced a significant discovery in Block 58. Maka Central-1 successfully tested for the presence of hydrocarbons in multiple stacked targets in the upper Cretaceous-aged Campanian and Santonian intervals and encountered both oil and gas condensate. The shallower Campanian interval contains 50 meters (164 feet) of net hydrocarbon-bearing reservoir. Preliminary fluid samples and test results indicate light oil and gas condensate with API gravities between 40 and 60 degrees. The deeper Santonian interval contains 73 meters (240 feet) of net oil-bearing reservoir. Preliminary fluid samples and tests results indicate API oil gravities between 35 and 45 degrees. The Maka Central-1 also targeted a third interval, the Turonian, a geologic analogue to oil discoveries offshore West Africa. Prior to reaching this interval, the well encountered significantly over-pressured, oil-bearing reservoirs in the lower Santonian, and the decision was made to conclude drilling at approximately 6,300 meters (20,670 feet). The pressures encountered in the lower Santonian are a positive sign for the Turonian and future drilling will test this interval.Production Sharing ContractsIn 2019, two PSCs were signed. The onshore Nickerie Block was signed with Decker Petroleum and the onshore Weg naar Zee Block with Columbus. Surinames shallow water license areas were unallotted as of December 31, 2019 and remain under Staatsolie. Ventures in the shallow offshore are under active consideration in 2020, with interest by many IOCs.In deep offshore, ExxonMobil as the Operator of Block 59, acquired 6,000 line km of 2D seismic data. Also, Cairn as the Operator of Block 61, finished the 2D seismic survey that was suspended in 2018.Staatsolie functions as the regulator and monitors the operations of all PSCs onshore and offshore Suriname.In 2019, we established a new directorate to manage our participation in the shallow offshore and deep offshore drilling projects. Brian Glover was hired as Offshore Deputy Director and started his job at Staatsolie on January 14, 2020. Integrated Guyana Basin StudyAn important project was the execution of the Integrated Guyana Basin Study (IGBS) that evaluated all the available data in Surinames part of the Suriname-Guyana Basin. The objective of the study is to become the Master of our Own Basin with the goal to increase exploration success. The project set up followed the Play-Based Exploration (PBE) workflow but was restricted to Basin Focus.24 STAATSOLIE 2019 ANNUAL REPORT'