Offshore staff
LONDON – Desire Petroleum (AIM:DES) has issued results of a reserves report on its Elaine and Isobel prospects in the offshore North Falkland basin.
The competent person’s report by Senergy (GB), covers interpretation of merged 3D seismic data acquired during 2010-2011 over the two structures in the PL004a license where Desire has a 92.5% interest.
Gross un-risked prospective recoverable oil is estimated at 337 MMbbl, comparable to the Rockhopper-operatedSea Lion discovery, with a geological chance of success (COS) of 30%.
The Elaine and Isobel fans are developed in the southeast area of the basin within the basal part of the F sequence and appear to be similar to the Sea Lion fans to the north. The seismic expression indicates a thick, sand-prone interval inter-bedded with mature oil source rock and combined structural/stratigraphic traps mapped on the downthrown side of the basin-bounding fault system.
Stephen Phipps, chairman of Desire, said: “As our prospect inventory matures, we will be seeking industry partners to participate in further exploration of our licenses…”
Un-Risked Prospective Recoverable Resources (MMbbl)
Prospect: Reservoir | Low | Best | High | Risk Factor/COS |
Elaine North | 8.4 | 26.1 | 48.3 | 30% |
Elaine South | 23.0 | 106.0 | 212.0 | 30% |
Isobel | 45.7 | 205 | 408 | 30% |
Total | 146 | 337 | 566 | |
8/16/2012
