Exploring the Prolific Rona Ridge West of Shetlands, UKCS

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Mark Pay Spark Exploration Exploring the Prolific Rona Ridge West of Shetlands, UKCS

Transcript of Exploring the Prolific Rona Ridge West of Shetlands, UKCS

Page 1: Exploring the Prolific Rona Ridge West of Shetlands, UKCS

Mark Pay

Spark Exploration

Exploring the Prolific Rona Ridge

West of Shetlands, UKCS

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Disclaimer• This document has been prepared by Spark Exploration Pty Ltd (“Spark”) in connection with providing an overview of its business to interested parties/analysts/investors.

• This presentation is being provided for the sole purpose of providing preliminary background information to enable recipients to review the business activities of Spark. This presentation is thus by its nature limited in scope and is not intended to provide all available information regarding Spark. This presentation is not intended as an offer, invitation, solicitation, or recommendation with respect to the purchase or sale of any securities. This presentation should not be relied upon as a representation of any matter that a potential investor should consider in evaluating Spark.

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Spark Exploration – A large Footprint on the Rona Ridge

• Spark Exploration is a privately owned company focused on exploring the prolific Rona Ridge, WoS

• Spark has built a > 900 km2 acreage footprint on the prolific Rona Ridge across three licences

• P.2407 & P.2412 (30th Round): Spark 100%

• P.2593 (32nd Round): Spark 50%, Siccar Point 50% (Op.)

• Diverse & attractive portfolio in several plays identified on high quality 3D seismic

• Identified prospectivity has proven analogues and ongoing development activity that provide potential commercial solutions

Clair

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Why the Rona Ridge?• Proven world class petroleum system. 10+ billion boe discovered

(Clair, Foinaven/Schiehallion, Lancaster, Edradour/Glendronach)

• Long lasting regional structural high focusses hydrocarbon migration, with multiple proven reservoirs & seals (Devonian, Jurassic & Cretaceous)

• Underexplored, with significant recent discoveries, appraisal and development activity

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Tuck & 206/11-1

Appraisal OpportunityCretaceous MacBeth Ssts

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Cretaceous MacBeth Sst Play

• Turonian-Cenomanian turbiditic sandstones are present on the flank of the Faroe Shetland Basin, adjacent to the Rona Ridge

• Well 206/11-1 is one of several discoveries. Edradour /Glendronach and the 206/4-1 gas discovery all sit within the same play type, with slightly different aged reservoirs

• These slope fan reservoir sands appear to be point sourced via systems associated with the main NW-SE orientated basement lineaments

• All the discoveries are stratigraphic traps

• Infrastructure potentially available for rapid development

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Cretaceous MacBeth Sst Play • 206/11-1: 9m pay with GDT 3,532mTVDss. Hydrate

compromised DST. Max gas flow rate 12.5 MMscf/d. Potential for >40 MMscf/d in a horizontal well

• 205/15-1: 500m downdip encountered 30.5m net reservoir interval at similar level

• Amplitude anomaly indicating better developed sands updip/along strike from 206/11-1 & 205/15-1

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Tuck: Macbeth Ssts Amplitude Anomaly

• 205/15-1 MacBeth sandstones appear to brighten updip on all offset volumes indicating better reservoir development

• Package thickens into depocentre in the hanging wall of the Rona Ridge ponding turbiditic fan ssts

206/11-1 Gas discoveryDST max rate 12.5 MMSCFD

gas from 9m net MacBeth Ssts

Lateral pinch-out of reservoir package on

to the Rona Ridge

Macbeth Ssts +/- 15ms far angle RMS amplitude 205/15-1High net:gross (30.5m net)

MacBeth Sst with gas shows

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Tuck: Macbeth Ssts Amplitude Anomaly

• 205/15-1 MacBeth sandstones appear to brighten updip on all offset volumes indicating better reservoir development

• Package thickens into depocentre in the hanging wall of the Rona Ridge ponding turbiditic fan ssts

206/11-1 Gas discoveryDST max rate 12.5 MMSCFD

gas from 9m net MacBeth Ssts

Lateral pinch-out of reservoir package on

to the Rona Ridge

Macbeth Ssts +/- 15ms far angle RMS amplitude 205/15-1High net:gross (30.5m net)

MacBeth Sst with gas shows

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Tuck Geo-Seismic Section • 205/15-1 MacBeth sandstones appear

to brighten updip on all offset volumes indicating better reservoir development

• Pressure data indicates an intra-formational seal between Tuck and 206/11-1. An appraisal well will test both reservoirs – analogous to the Edradour-Glendronach accumulations

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Ginger ProspectDevonian Clair Group

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Ginger Prospect Summary

• A large structural-stratigraphic closure of the Clair Group to the south-west of Clair

• Three way dip, one way truncation trap towards the south-west

• The reservoir is absent in 205/20-1. Lateral seal to the south-west provided by impermeable basement and/or basal Clair Group basal conglomerate/lacustrine mud

• Proven topseal provided by Upper Jurassic and Upper Cretaceous shales

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Ginger Prospect Regional seismic line to the Clair Field

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Ginger Prospect Dip Seismic Section

• A large structural-stratigraphic closure of the Clair Group to the south-west of Clair

• Three way dip, one way truncation trap towards the south-west

• Lower Clair Group clasticsinfilling fault bounded topography on the Lewisian basement

• Proven topseal provided by Upper Jurassic and Upper Cretaceous shales

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Cherry ProspectLower Cretaceous Victory Ssts

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Cherry Prospect Summary

• Cherry is a Lower Cretaceous Victory Sst stratigraphic trap updip of 205/20-1 where the sands were strongly oil stained

• The Victory reservoir will form an important part of Clair Phase III (SW) following an extensive appraisal campaign in recent years

• Trap created by onlap onto the Kimmeridge Clay Fm on the flank of the Rona Ridge with ~16 km2 of closure

• The Sammy Prospect (mean recoverable 37mmbbls) is a robust 4-way dip structure downdip of Cherry which could be targeted in the same drilling campaign to test the play

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Thank You

Contact Details:

Mark Pay - Technical Director, Spark Exploration

[email protected]