Cluff Natural Resources has quadrupled its resources in the Southern North Sea.
The firm this morning confirmed its P50 Prospective Resources on its 100% owned Licence P2252 increased from 162 BCF (billion cubic feet) to 636 BCF, following technical work focussing on the Zechstein prospects located in the Southern North Sea.
The mega-increase is primarily due to the newly named Pensacola Prospect, which the company estimates to have P50 Prospective Resources of 424 BCF.
Chief executive Algy Cluff said: “We are delighted that our continued technical focus on these core licences continues to de-risk known gas prospects and enhance the exploration upside contained within the portfolio. The Company has a 100% equity position in its highly prospective licences in the Southern North Sea which deserve to be fully appraised. We are confident that the quality and scale of these assets will continue to attract the interest of existing operators and potential new entrants as we progress through the farm-out process.”
A company report added: “The acquisition of recently reprocessed 3-D seismic has provided a greater level of confidence in the mapping of the Lytham and Fairhaven Zechstein (Fractured Hauptdolomite) Prospects where previous exploration wells by third parties indicated significantly elevated levels of gas during drilling operations. This revised mapping and comparison with close analogues within the basin, such as the giant Hewett Field, has allowed a revised assessment of the estimated gas volumes associated with these structures which has increased the combined P50 Prospective Resources on this prospect from 94 BCF to 168 BCF.
“Additionally, the new 3-D seismic data set has also allowed for a revised interpretation of the St. Annes lead highlighted previously. It is now believed that these leads form the outer edge of a larger circular patch reef complex, now named the Pensacola Prospect, similar to those seen on adjacent blocks to the east. These patch reefs are analogous to producing fields in Poland and the US and have the potential to contain significant gas volumes and high quality reservoirs. The Company estimates that the Pensacola Prospect has P50 Prospective Resources of 424 BCF between the reef margin which has the potential to contain high quality reservoir facies and the internal lagoon sediments which are potentially more variable in terms of overall reservoir quality.”
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