The Georgetown License comprises 1.7 million acres offshore Guyana. The License expired on November 25, 2012.
The former partners to the Georgetown License included Repsol Exploración S.A. (15% and operator), YPF (30%), Tullow Oil plc (30%) and CGX Resources (25%). After undertaking an 1,839 sq km 3D seismic program in late 2008 / early 2009, the Jaguar-1 well location was chosen. Repsol contracted the Atwood Beacon jack-up drill rig to drill the Jaguar-1 well which was planned to a total depth of 6,500 metres to test the Turonian geologic zone. The Jaguar-1 well commenced drilling on February 9, 2012 and on July 16, 2012 the partners announced their unanimous decision to plug and abandon this high-pressure, high-temperature well at a depth of 4,876 metres, without reaching the primary objective. The decision to stop drilling was based on safety criteria and was taken after reaching a point in the well where the pressure design limits for safe operations prevented further drilling to the main objective. Whilst the primary Late Cretaceous objective was not reached, samples of light oil were successfully recovered from two Late Cretaceous turbidite sands above the primary objective.