the north celtic sea basin: a resurgent proven hydrocarbon ... · the presentation materials do not...
TRANSCRIPT
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The North Celtic Sea Basin: A Resurgent Proven Hydrocarbon
Province
Ireland Oil & Gas Summit
2013
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Disclaimer
These presentation materials (the “Presentation Materials”) do not constitute or form any part of any offer or invitation or inducement to
sell or issue or purchase or subscribe for any shares in Lansdowne Oil & Gas plc (“Lansdowne”) nor shall they or any part of them, or
the fact of their distribution, form the basis of, or be relied on in connection with, any contract with Lansdowne, or any other person,
relating to any Lansdowne securities. Any decision regarding any proposed purchase of shares in Lansdowne must be made solely on
the basis of the information issued by Lansdowne at the relevant time. Past performance cannot be relied upon as a guide to future
performance. The Presentation Materials are not intended to be distributed or passed on, directly or indirectly, to any other class of
persons. They are being supplied to you solely for your information and may not be reproduced, forwarded to any other person or
published, in whole or in part, for any other purpose. In particular they, directly or indirectly, must not be distributed to persons in the
United States of America, its territories or possessions or Australia or Canada or Japan or the Republic of Ireland or South Africa. Any
such distribution could result in a violation of law in those territories.
The Presentation Materials do not constitute or form part of a prospectus prepared in accordance with the Prospectus Rules (being the
rules produced and implemented by the Financial Conduct Authority (“FCA”) by virtue of the Prospectus Rules Instrument 2005) and
have not been approved as a prospectus by the FCA (as the competent authority in the UK). The Presentation Materials do not contain
any offer of transferable securities to the public as such expression is defined in section 102(b) FSMA or otherwise and do not constitute
or form part of any offer or invitation to subscribe for, underwrite or purchase Lansdowne securities nor shall they, or any part of them,
form the basis of, or be relied upon in connection with, any contract with Lansdowne relating to any Lansdowne securities.
No reliance may be placed for any purpose whatsoever on the information contained in the Presentation Materials or on the
completeness, accuracy or fairness of such information and/or opinions expressed herein. No representation or warranty, express or
implied, is made or given by or on behalf of Lansdowne or any of its directors, officers, partners, employees or advisers as to the
accuracy or the completeness of the information or opinions contained herein and no responsibility or liability is accepted by any of
them for any such information or opinions or for any errors or omissions.
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Key Points
Proven Petroleum Systems
Underexplored
Resurgent Activity
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Key Points
Proven Petroleum Systems
Basin Definition
Stratigraphy Source rocks
Reservoir rocks
Petroleum Systems
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North Celtic Sea Basin Definition
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North Celtic Sea Basin Definition
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Stratigraphy and Source Rocks
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Lower Jurassic Source rocks
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Lower Jurassic Source rocks
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Upper Jurassic Source Rocks
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Upper Jurassic Source Rocks
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Cretaceous Gas Play
Cretaceous Gas Play • Shallow water 270 – 300 ft
• Reservoirs c. 2500- 4500ft subsea
• Dry Gas (c 99% methane)
• Production to date • Kinsale 1.7 TCF
• Ballycotton c 61 BCF
• Seven Heads c 25 BCF
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Stratigraphy and Reservoir Rocks
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Celtic Sea Petroleum Systems
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Key Points
Proven Petroleum Systems
Underexplored
Resurgent Activity
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Wells Drilled off south coast of Ireland
0
1
2
3
4
5
6
7
8
1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
FASTNET
SCS
NCS
103 Wells
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Wells Drilled - NCSB
0
1
2
3
4
5
6
7
8
1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
NCS
NCS
88 Wells
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NCSB - minus development wells
0
1
2
3
4
5
6
7
8
1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
NCS
80 Wells
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NCSB - wells on KH, 7H/Barryroe and
Ballycotton
0
1
2
3
4
5
6
7
8
1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
COMM FIELDS
E&A
16
64
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NCSB - minus wells on producing
structures & Barryroe
0
1
2
3
4
5
6
7
8
1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
E&A
E&A
64 wells
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Underexplored
64 wells
But a number of these are on discoveries & their appraisals
Cretaceous Hook Head – 50/11-1, 50/11-2, 50/11-3, 50/11-4
Ardmore – 49/14-1, 49/14-2
Galley Head – 48/18-1
Schull – 57/2-2, 57/2-3
Carrigaline – 48/24-4
Old Head – 49/23-1, 49/23-2z
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NCSB - Cret. tech success structures
0
1
2
3
4
5
6
7
8
1970197219741976197819801982198419861988199019921994199619982000200220042006200820102012
CRET DISC
E&A
12
52
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NCSB - minus producing & Cret. tech
success structures
0
1
2
3
4
5
6
7
8
1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
E&A
E&A
52 Wells
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Underexplored
52 wells
But a number of these are on discoveries & their appraisals
Jurassic Helvick – 49/9-2, 49/9-3Y, 49/9-6
Dunmore – 50/6-1, 50/6-4
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25
NCSB – showing Jurassic disc/appraisal
0
1
2
3
4
5
6
7
8
1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
JURA DISC & APP
E&A
5
47
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26
NCSB – minus Jurassic disc/appraisal
0
1
2
3
4
5
6
1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
E&A
E&A
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27
NCSB – Just Exploration wells
0
1
2
3
4
5
6
7
1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
EXPLORATION
EXPLORATION
59 EXPLORATION
WELLS
ONLY 2 SINCE 1995
- BLACKROCK 49/26-1A
- OLD HEAD 49/23-1
BLACKROCK
DRY
OLD HEAD
GAS
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NCSB – Drilling Depth
-14000
-12000
-10000
-8000
-6000
-4000
-2000
0
Wells drilled in NCSB in chronological order
Total
Depth
TVDSS
in feet
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NCSB – Drilling Depth
-14000
-12000
-10000
-8000
-6000
-4000
-2000
0
Wells drilled in NCSB in chronological order
Total
Depth
TVDSS
in feet
Deepest well in the basin
57/2-1 12,385 ft
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NCSB – Drilling Depth
-14000
-12000
-10000
-8000
-6000
-4000
-2000
0
Wells drilled in NCSB in chronological order
Total
Depth
TVDSS
in feet
9 wells beneath 10,000ft
(10% of wells)
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NCSB – Drilling Depth
-14000
-12000
-10000
-8000
-6000
-4000
-2000
0
Wells drilled in NCSB in chronological order
Total
Depth
TVDSS
in feet
35 wells above 6,000ft
(40% of wells)
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Well - Stratigraphy at TD
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Key Points
Proven Petroleum Systems
Underexplored
Resurgent Activity
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NCSB – 3D Seismic
0
200
400
600
800
1000
1200
1400
1600
1800
1970197219741976197819801982198419861988199019921994199619982000200220042006200820102012
3D SEISMIC
3D SEISMIC
Helvick Helvick
SW Kinsale
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NCSB – 3D Seismic
0
200
400
600
800
1000
1200
1400
1600
1800
1970197219741976197819801982198419861988199019921994199619982000200220042006200820102012
3D SEISMIC
3D SEISMIC
An exploration well has
yet to be sited using 3D
seismic
90% of 3D Seismic in the basin acquired
since 2011
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3D Seismic
Midleton Ballycotton
Rosscarbery
Amergin Barryroe
Polarcus Samur on Location 2011
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Barryroe – (Lansdowne 20%)
Basal Wealden sandstone tested at 3,514 bopd
& 2.93 mmscfgd
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Barryroe – Schematic Cross - Section
Source: Providence Resources
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Barryroe – CPR Estimates
Source: Providence Resources
Reservoir Interval 1C
(MMBO)
2C
(MMBO)
3C
(MMBO)
Middle Wealden
STOIIP (RPS)
Recoverable (RPS)
31
4
287
45
706
113
Basal Wealden
STOIIP (NSAI)
Recoverable (NSAI)
338
85
761
266
1,135
511
TOTAL STOIIP
TOTAL Recoverable
369
89
1,048
311
1,841
624
LANSDOWNE (20%)
NET RECOVERABLE
18 62 125
Note: The table above excludes recoverable solution gas (i.e. 207 BCF or 34.5 MMBOE in the 2C case)
Additional potential in drilled Lower Wealden and Purbeckian sandstones and in undrilled deeper
Jurassic section
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The Future
Wells located on 3D seismic
Pre-inversion structures
Deeper targets
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Amergin
Base Chalk
Apto-Albian
Hauterivian
Valanginian
BCU
Kimmeridgian
Bathonian Lmst
North South
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Conclusions
Proven Petroleum Systems
Underexplored
Resurgent Activity
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The North Celtic Sea Basin: A Resurgent Proven Hydrocarbon
Province
Ireland Oil & Gas Summit
2013