In addition to Victory31 Dec 2021 14:31
For some of the newbies Victory is worth around 100 million to Reabold when gas is 50p per therm, in addition to this licence Corallian also has the following licenses for sale.
West of Shetland - North
P2493
The licence was awarded in the 31st Round. The licence contains the Sandvoe prospect defined by a seismic amplitude anomaly at an estimated depth of 2,215 TVDss and prognosed to be sandstones of late Eocene age. The prospect covers an area of 600 km2. The prospect has a Pmean prospective resource estimated at 12.6 TCF, with a P90 to P10 range of 6.8-20.1 TCF. The closest relevant well control is well 214/4-1, the Tobermory gas discovery in mid Eocene sandstones.
Corallian holds a 100% interest in the licence.
Viking Graben
P2464
The licence was awarded in the 31st Round. Block 3/12b contains the Unst gas prospect, an Eocene Frigg sandstone prospect which exhibits a seismic amplitude anomaly similar to that observed at the nearby Nuggets Fields. The prospect is estimated to contain an upside (P10) outcome of c. 80 bcf recoverable.
Block 3/18 contains the Quoys prospect, a Jurassic structural / stratigraphic trap up dip of the 3/19b-2 oil discovery which flowed in excess of 5,000 bopd on DST. The prospect is estimated to contain Pmean prospective resources of 57.4 mmbo, with upside (P10) of 107.5 mmbo.
Corallian holds a 100% interest in the licence.
P2504
The licence was offered in the 32nd Round. Block 3/11a is adjacent to the Corallian licence P2464 and contains the Oulton oil discovery, drilled by Amoco in 1974 in the 3/11-1 and side-track 3/11-1ST wells. Light oil was tested from the Jurassic Emerald sandstones contained within a simple series of three upthrown fault trap which are now well imaged on 3D seismic data. The Block was previously held by Corallian as licence P2222. The discovery is estimated to contain 10-20 million barrels of oil recoverable with the range of resources related to the three mapped fault blocks associated with the discovery (1C to 3C Contingent Resources based upon a CPR commissioned by the company with Schlumberger in 2018). The block also contains the Oulton West prospect, a structural stratigraphic trap at Emerald level which is up-dip and potentially connected to the Oulton discovery via a structural saddle mapped in the south-eastern limit of the prospect. The prospect has an estimated Pmean prospective resource of 37 mmboe (from CPR). The Oulton West Jurassic prospect is overlain by an Eocene aged Frigg sandstone gas prospect which exhibits a direct hydrocarbon indicator (DHI) in the form of a full stack amplitude anomaly which conforms to depth structure at the mapped top reservoir horizon. The prospect has a mean prospective resource estimate of 22 bcf recoverable (Corallian estimate). The firm work associated with the offer is to reprocess 3D seismic data and undertake a range of studies.
Corallian holds a 100% interest in the licence.
Cen