FEL 4/13, 1/09 and 1/06, Atlantic Ireland PROSPEX, London, December - - PowerPoint PPT Presentation

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FEL 4/13, 1/09 and 1/06, Atlantic Ireland PROSPEX, London, December - - PowerPoint PPT Presentation

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Slyne & Rockall Basin Opportunities FEL 4/13, 1/09 and 1/06, Atlantic Ireland PROSPEX, London, December 2014 Ireland Atlantic Exploration Shared geology with UK, oil, condensate, gas Vring discovery / field Faroe & Norwegian

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SLIDE 1

Slyne & Rockall Basin Opportunities FEL 4/13, 1/09 and 1/06, Atlantic Ireland

PROSPEX, London, December 2014

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SLIDE 2

Ireland Atlantic Exploration

2

  • Shared geology with UK,

Faroe & Norwegian Atlantic margins

  • Serica’s acreage covers many

pre, syn and post-rift plays

  • FEL 1/09 & 4/13 Rockall

Basin: higher risk, high reward plays with significant pre-rift structural and post-rift stratigraphic potential

  • FEL 1/06 Slyne Basin: proven

low-risk structural plays within Jurassic and Triassic

  • Drill-ready prospects mapped
  • n 3D seismic
  • No need to have to bother

with licence applications!

Carboniferous basin Triassic basin Jurassic basin Cretaceous basin Flood Basalt / oceanic crust

  • il, condensate, gas

discovery / field Porcupine Møre Halten Faroe- Shetland Vøring Slyne Irish Rockall UK Rockall

FEL 1/09 FEL 4/13 FEL 1/06 Dooish Discovery Corrib Field Bandon Discovery

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SLIDE 3

3

FEL 1/09 and FEL 4/13 Introduction

  • Serica 100% interest in FEL

1/09 & 4/13

  • Significant tilted fault blocks

and stratigraphic traps clearly defined on 3D seismic data in approximately 1500-2000m water depth

  • AVO supported Albian

turbidite fan (Derryveagh Prospect) overlying tilted fault block (Midleton Prospect)

  • Both Derryveagh and

Midleton can be targeted with one well

  • Muckish Prospect is a tilted

fault block analogous to the Dooish Discovery

FEL 1/09 FEL 4/13

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SLIDE 4

4

Midleton Prospect vs. Dooish Discovery

4 5 sTWT

Top Maastrichtian

sTWT Dooish 12/2/1,1z Erris Ridge

W E

Tertiary intrusive Top Turonian Base Cretaceous

12/2-1z Dooish Discovery (Shell / Enterprise, 2002-3) Permian Middle Jurassic

  • Lr. Cret

214m wet gas-condensate column

FWL 4136mSS (not full to spill)

average Ø 14% average Ø 14%

SW NE

4 5

Top Palaeocene Top Maastrichtian

  • Nr. Top

Albian Mid Aptian Base Cretaceous

Midleton Prospect 6 West Midleton Prospect Derryveagh

Prospect

(up-dip termination)

Pre-BCU syn-rift Pre-BCU syn-rift

4018mDD MDT sample

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SLIDE 5

5

FEL 1/09 and FEL 4/13 Pre-Rift Potential

Prospects and Leads Mapped at Base Cretaceous

N

Dooish Discovery

Muckish East Muckish Mackoght West Midleton Midleton

Depth Perspective on Base Cretaceous

  • Muckish Prospect

analogous to the Dooish Discovery

  • 31 km2 areal

closure and 600 m

  • f vertical closure
  • follow-up prospects

in the event of success

Derryveagh Prospect

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SLIDE 6

6

FEL 1/09 & FEL 4/13 Stratigraphic Potential

Early Cretaceous Turbidite Fans & Analogues

Jubilee- Ghana

Late Cretaceous Turbidite Fan up-dip pinchout 12/13-1A

NW SE

Top Maastrichtian

  • Nr. Top

Albian Base Cretaceous Top Palaeocene

Midleton Prospect Derryveagh Prospect Erris Ridge Thick early Cretaceous shallow marine to deltaic sandstones proven in 12/13-1A Syn-rift shallow marine sands Mass flow turbidites Analogous Play: UK Faroe-Shetland Basin (Larsen et al, 2010) 12/13-1A South Tano High Additional stratigraphic potential?

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SLIDE 7

FEL 1/09 & FEL 4/13 Stratigraphic Potential

Albian Derryveagh Prospect

7

  • Stratigraphic Albian turbidite fan (Derryveagh Prospect) exhibiting Class I AVO anomaly
  • The play is well established in UK West of Shetlands and the Porcupine Basin
  • Excellent sand source proven in 12/13-1A and from eroding pre-rift highs
  • A single well could test both Derryveagh and the underlying Midleton Prospect

Albian Amplitude overlain on Base Cretaceous Depth Map

sTWT 4 5

NW SE

Top Maastrichtian Intra Albian Base Chalk BCU Mid Aptian Top Palaeocene

Derryveagh Prospect Midleton Prospect

(edge of)

6

Derryveagh West Midleton

Possible well location

Midleton

Albian Fan RMS Amp. +/- 50ms, nears-fars

Bottomseal: Lower Cretaceous shales and/or Pre-BCU syn-rift Albian Fan

XL3580

Possible well location

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SLIDE 8

FEL 1/09 & FEL 4/13 Stratigraphic Potential

Albian Derryveagh Prospect – 3D Visualisation

8

N

West Midleton Prospect underlying structural high Up-dip pinch-out

  • f fan over

Midleton Prospect structural high Albian turbidite fan: Derryveagh Prospect Midleton Prospect underlying structural high

Albian RMS amplitude drape over depth sills Midleton West Midleton N turbidite fan Feeder channel Albian frequency decomposition drape over depth Potentially analogous Albian fan, Tano Basin, Ghana, West Africa (Houston Geological Society, 2011)

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SLIDE 9

PROSPECTIVE RESOURCE INVENTORY

* Resource estimates are based on latest Serica in-house interpretation

Resources Play P90 P50 mean P10 Muckish Pre- Rift 270 18 1285 85 1635 108 3442 227 bcf mmbbls Muckish East Pre- Rift 17 1 78 5 98 6 205 14 bcf mmbbls Mackoght Pre- Rift 15 1 72 5 90 6 189 13 bcf mmbbls Midleton Pre- Rift 293 19 1431 94 1902 126 4062 268 bcf mmbbls West Midleton Pre- Rift 165 11 786 52 999 66 2103 139 bcf mmbbls Derryveagh work in progress

9

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SLIDE 10

FEL 1/06 Introduction

10

  • FEL 1/06 operated by Serica

(50%) in partnership with RWE

  • Close to Serica’s 27/4-1,1z

Bandon Oil Discovery and 40 kms south of Corrib Gas Field

  • High quality Lower Jurassic

and Triassic reservoirs proven in offset wells

  • Proven oil source in Jurassic

and gas source in Carboniferous on-block

  • Water depth 250m
  • Achill and Liffey prospects

with significant upside

FEL 1/06

  • Boyne Prospect is a large

tilted fault block clearly defined on 3D seismic data, with a dual target (Jurassic and Triassic) and total P50 reserves of 80 mmbbls oil (Serica estimate)

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SLIDE 11

11

  • Triassic reservoirs sourced by

Carboniferous coals, via windows in Permian halite

  • Concept proven by the Corrib

Field 40 kms to north

  • Lower Jurassic reservoirs sourced

by up-dip oil migration from source kitchen

  • Concept proven by the Bandon Oil

Discovery 27/4-1,1z

Slyne Basin Petroleum System

Two Proven Plays

0.5 1.0 1.5 2.0 2.5

TWT(s)

Bandon Discovery: 38m oil column in high quality Lower Jurassic sandstones Oil shows in high quality Middle Jurassic sandstones

Boyne Prospect

Triassic Sherwood Sandstone Mature gas prone Carboniferous source rocks 150m thick immature

  • il prone source rocks

in Lower Jurassic

27/5-1

Triassic Sherwood Sandstone Carboniferous Coal Measures Ro 0.7% +

W E

Permian halite

Middle Jurassic Triassic 27/4-1,1z Proposed Boyne well location Lower Jurassic

Mature oil prone Lower Jurassic source rocks 27/4-1z oil sample

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SLIDE 12

FEL 1/06 Boyne Prospect

Dual Jurassic & Triassic Objectives

WNW ESE Proposed Well (offset)

Top Lower Jurassic Top Sherwood Sandstone Top Carboniferous

Boyne Prospect

Top Permian Halite Top Bajocian Limestone Possible oil charge

  • f Sherwood Sst

across fault

12 Top Triassic (Sherwood Sandstone) Depth Map Proposed well location

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SLIDE 13

FEL 1/06 Resource Inventory

* Resource estimates are based on latest Serica in-house interpretation 13

  • Two proven hydrocarbon systems
  • Well-defined structural prospects on high-

quality 3D seismic data

  • Reservoir potential at more than one level
  • Boyne Prospect is ready to drill
  • Significant equity is available in return for

drilling an exploration well

Resources P90 P50 mean P10 Boyne Jurassic 9 31 45 96 mmbbls either Boyne Sherwood 8 49 134 312 mmbbls

  • r Boyne

Sherwood 33 199 513 1213 bcf Liffey Jurassic 6 38 104 245 mmbbls Liffey Sherwood 74 281 473 1059 bcf Achill Sherwood 58 313 716 1689 bcf

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SLIDE 14

For further details, Please visit the Serica stand, or contact Clara Altobell, International Asset Manager clara.altobell@serica-energy.com tel +44 (0)20 7487 7300

Slyne & Rockall Basin Opportunities FEL 4/13, 1/09 and 1/06