AziNor Catalyst is farming down material equity in return for a significant portion of its interest in licence P2317 (blocks 14/13a, 14/14b and 14/15b) containing the Goose, Bird and Long Bird prospects. Goose forms the primary prospect with Bird and Long Bird forming follow-on prospects on the same licence with similar seismic responses to Goose and offset fields. P2317 is an Innovate licence awarded in the 29th Licensing Round in May 2017. In August 2018, it is understood that the opportunity is still available.  The three prospects are located in the NW Witch Ground Graben up-dip from the Brule discovery and on trend with the Scapa, Claymore and Athena fields which all produce from the same age, Scapa reservoir. Three Lower Cretaceous Scapa turbidite oil prone prospects named Goose, Bird and Long Bird comprising of structurally controlled stratigraphic traps have been identified in the acreage. AziNor has derived estimates of 284 MMboe (Pmean) recoverable resources across 3 prospects with an upside of 524 MMboe (P10).   Reprocessed, recently acquired 3D Broadband Geostreamer seismic has enabled the development of hydrocarbon fluid indicators which are calibrated to adjacent proven oil accumulations. An exploration well is planned for 2019 targeting the Scapa sands at the Goose prospect to a depth of 2,825 m TVDSS. The Bird prospects were defined from the well results of Partridge (14/11a-02) and additional geotechnical studies including a high resolution regional biostratigraphy study to accurately map the individual depositional fairways of the Lower Cretaceous Scapa sands. The prospects are in closer proximity to the mature Kimmeridge Clay source kitchen which significantly de-risks the Bird prospects in comparison to the Partridge prospect, which is believed to have failed due to lack of charge. The Lower Cretaceous K34 Scapa Sandstone Formation forms the primary reservoir at Goose with further potential within older K20 and K12 Scapa units identified from geophysical lithology indicators. These shallow marine turbidites derive from the eroded crests of the surrounding Devonian highs and Caithness ridge as well as reworked clastics deposited on the Halibut Shelf.   Interest in P2317 is held by AziNor Catalyst Limited (80% + operator) and Dyas (UK) Ltd 20%.   For further information please contact:    Nick Terrell    Tel+44 (0)20 3588 0065  Email: nick.terrell@azinorpetroleum.com
AziNor Catalyst is farming down material equity in return for a significant portion of its interest in licence P2317 (blocks 14/13a, 14/14b and 14/15b) containing the Goose, Bird and Long Bird prospects. 