Painted Wolf Resources is offering companies to participate on a promote basis in return for the drilling of an exploration well on licence P2339 (block 21/30e). Painted Wolf has identified ten prospects in the acreage collectively named the âBiscuitsâ prospects with an estimated combined P50 recoverable resource of 38.64 MMbbl. The Jurassic Fulmar Sandstones form the reservoir objective in all ten prospects which are sourced and sealed by Kimmeridge Clays and Shales. The trapping mechanisms involve four-way dip closures and rotated fault blocks. The current work programme aims to de-risk the structures and mature them into drillable prospects. The abundance of local infrastructure should enable the prospects to be rapidly developed if successful. Furthermore, the Triton FPSO is on licence with spare slots for early production, subject to negotiation. As of November 2019 it was confirmed that the opportunity was still available.    Hobnob forms the primary prospect and includes the independent Digestive and Ginger closures in a P10 scenario. Further potential from Oreo, Bourbon and Creme are all defined as single culmination structures. The Cracker North and South prospects are closed against thick Lower Cretaceous Shales to the north and east. In the west, fault seal provides closure and a salt diapir provides closure in the south where Painted Wolf interpret the Jurassic Fulmar Sandstone to be juxtaposed against the Zechstein. Garibaldi is defined as a four-way dip closure at the Base Cretaceous Unconformity stratigraphic level. The company state that reservoir presence provides the key risk however, thick Jurassic reservoirs could be preserved over the crest of the structure. Jaffa is described as a large westerly tilted fault block bounded by a major fault. The P10 scenario relies on fault seal to the south west, with further upside potential in smaller terraces to the east.     The licence was awarded in the 2016 Offshore Supplementary Round on 1 August 2017. The acreage is surrounded by several fields including Guillemot A, Gannet C, Gannet F and Gannet E. No exploration wells have been drilled in block 21/30e to date due to the risks associated with the Upper Jurassic play.     Interest in P2339 is held solely by Painted Wolf Resources Limited (100% + operator).     For further information please contact:     Alex Strong â astrong@paintedwolfresources.com
Painted Wolf Resources is offering companies to participate on a promote basis in return for the drilling of an exploration well on licence P2339 (block 21/30e). Painted Wolf has identified ten prospects in the acreage collectively named the âBiscuitsâ prospects with an estimated combined P50 recoverable resource of 38.64 MMbbl. 