P1654 – Block 15/18c Relinquishment Report Date: May 2011 Document No: BEL-EXPL-021 Rev1 Page 1 of 9 Licence P1654 – 25th Round – Tradiotional – Block 15/18c Document No: BEL-EXPL-021 Revision No: 01 Document Approval, Distribution & Revision Prepared by: Signature Amanda Slorach Reviewed by: Alasdair MacMillan ……………. Approved for Issue: Kevin Purvis …………….. Report Distribution Copy Number Recipients 1 DECC 2 Bridge Energy - Aberdeen 3 Cirrus 4 Document Revision Revision Number 1 Description Date Prepared by Relinquishment Report 11/05/11 Amanda Slorach 2 3 Date: May 2011 Page 2 of 9 Licence P1654 – 25th Round – Tradiotional – Block 15/18c Document No: BEL-EXPL-021 Revision No: 01 Contents Document Approval, Distribution & Revision ..............................................................................2 Contents .....................................................................................................................................3 List of Figures .............................................................................................................................3 1.0 Header ................................................................................................................................4 2.0 Synopsis .............................................................................................................................4 3.0 Exploration Activities ..........................................................................................................4 4.0 Prospectivity Analysis .........................................................................................................5 5.0 Clearance ...........................................................................................................................5 6.0 Maps and Figures ...............................................................................................................6 List of Figures Figure 1: 15/18c - Location Map Figure 2: Daffodil - CSEM Line Location Figure 3: Daffodil Seismic Line (NW-SE) Figure 4: Daffodil – Top Forties Depth Map (Amplitude Colour Fill) Date: May 2011 Page 3 of 9 Licence P1654 – 25th Round – Tradiotional – Block 15/18c 1.0 Document No: BEL-EXPL-021 Revision No: 01 Header Licence Number: Licence Round: Licence Type: Block Number: Operator: Partners: P1654 25th Round Traditional 15/18c Bridge Energy CNS Limited (50%) Cirrus Energy (50%) Work Programme: Reprocess 60 sq km of 3D seismic data Acquire one 5 km CSEM profile Commit to drill or drop within two years (1 well to 1700 m to evaluate the Balmoral Sandstone) 2.0 Synopsis Licence P1654 (Block 15/18c) was awarded to Silverstone Energy (now known as Bridge Energy) under the 25th Licensing Round with a commencement date of 12th February 2009. A drill-or-drop decision was due by 12th February 2011. The block is situated due east of the Piper field (Figure 1). Trap definition and closure were seen as the key issues. The key intervals for investigation were the high quality deep waters sands of the Forties, Fergie and Balmoral. Local success in the Forties and Balmoral had been experienced at Maria (15/18a) and Yeoman (15/18b) respectively. Unfortunately no CSEM anomaly was found over the Daffodil prospect, whilst visible seismic amplitude changes were thought to be lithology rather than fluid related. The partnership therefore sees no prospectivity and wish to relinquish the block with immediate effect. 3.0 Exploration Activities 60 sq km of reprocessed 3D seismic was obtained from Fugro in order to satisfy the work commitment. In addition, a 5 km CSEM line was acquired in Q4 2010 by OHM (Figure 2). This data was processed, interpreted and assimilated with the seismic interpretation in an attempt to de-risk the presence of reservoir and hydrocarbons. Date: May 2011 Page 4 of 9 Licence P1654 – 25th Round – Tradiotional – Block 15/18c 4.0 Document No: BEL-EXPL-021 Revision No: 01 Prospectivity Analysis A thorough investigation of the geology of the area was undertaken. The Palaeocene and Eocene are characterised by the presence of high quality deep water mass flow sands offering excellent reservoir quality. These systems were found to be mutually exclusive as they are known to shift course after each significant pulse of sedimentation. Any accumulation in place will require the interaction between channel system presence and trap. The main prospect identified was the Daffodil prospect (figures 3 and 4), a 4-way closure identified on the same Forties channel up-dip of the Maria Discovery. Whilst the structure was not closed in time, a velocity gradient exists which may result in depth closure with some additional stratigraphic trapping upside. Rock physics and seismic studies indicate that any amplitude changes visible on Daffodil are likely lithology and not fluid related. Unfortunately no CSEM anomaly was witnessed over Daffodil. The group therefore see no further method of de-risking the prospect and wish to relinquish the licence with immediate effect. No volumetrics were calculated for Daffodil. 5.0 Clearance Partners have reviewed the material within this report and have given clearance that DECC is free to publish this document. All 3rd party ownership rights have been considered and appropriately cleared for publication purpose. Date: May 2011 Page 5 of 9 Licence P1654 – 25th Round – Tradiotional – Block 15/18c 6.0 Document No: BEL-EXPL-021 Revision No: 01 Maps and Figures Figure 1: Date: May 2011 15/18c - Location Map Page 6 of 9 Licence P1654 – 25th Round – Tradiotional – Block 15/18c Figure 2: Date: May 2011 Document No: BEL-EXPL-021 Revision No: 01 Daffodil - CSEM Line Location Page 7 of 9 Licence P1654 – 25th Round – Tradiotional – Block 15/18c Document No: BEL-EXPL-021 Revision No: 01 Figure 3: Daffodil Seismic Line (NW-SE) Date: May 2011 Page 8 of 9 Licence P1654 – 25th Round – Tradiotional – Block 15/18c Document No: BEL-EXPL-021 Revision No: 01 Figure 4 - Daffodil – Top Forties Depth Map (Amplitude Colour Fill) Date: May 2011 Page 9 of 9
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