Camcan Energy Ltd continued to offer a farm-in opportunity in the Savannakhet PSC, located in onshore Khorat Plateau Basin, in April 2018. The company is planning to acquire a 2D seismic survey in the block, for the purpose of confirming potential well locations.  The Savannakhet PSC covers most of the Savannakhet Basin, which is equivalent to the productive Khorat Plateau Basin to the west, within the Thailand boundaries. The basin is largely underexplored on the Laos side, however a working petroleum system is confirmed by the presence of oil seeps and by the Bang Nouan 1 well (gas shows), drilled in 2010 by Salamander.  There are two large prospects identified in the block: Non Oudom (700 Bcf) and Non Chan (400 Bcf), both resources estimates being risked Mean Recoverable. Other smaller prospect identified by Petrel Robinson Consulting (2015) are Dong Phao (380 Bcf) and Savannakhet (260 Bcf). There is a large and increasing energy demand and robust gas market in Laos and regionally.  The Savannakhet block overlies a series of northwest â southeast orientated horst and graben features. This structural regime sets up a number of different trap types within the basin. Reservoir units are found in the Permian carbonate and Triassic sandstone, with the most proven to date being Permian carbonates of the Pha Nok Khao Formation. Cretaceous sandstones also offer a potential target. Permian and Triassic aged rocks offer source potential, as well as the Carboniferous. Potential cap rocks are represented by Upper Permian, Upper Triassic, Jurassic, and Cretaceous shales.Â   Camcan Energy Limited is the operator with 100% interest for the block after being awarded the PSC in October 2013 for a total exploration period of seven years, with an initial period of three years and two extensions of two years each. Each exploration period carries a minimum work obligation of 350 km of 2D seismic data plus one well, depending on the identification of drillable prospects from seismic. Following any commercial discovery on the block, exploitation period will commence for 30 years. Camcan has the right to produce and sell hydrocarbons to the local market, internationally or both.  This opportunity can be reviewed digitally following the execution of a Confidentiality Agreement (CA). Moyes & Co is the representative company of Camcan Energy Ltd on this opportunity. For further information please contact:  Ian Cross    Managing Director    Email: ICross@MoyesCo.com    Tel: +65.9776.0753Â   Â   Andy Melvin    Managing Director    Email: AMelvin@MoyesCo.com    Tel: +44(0)7702.855895  Â   Background Information    The Savannakhet PSC originally covered an area of 18,953 sq km in the eastern part of the Khorat Plateau Basin that is relatively unexplored.Â The block lies east of the Mekong river and Salamander is tracking both north and eastwards extensions of the proven Khorat Plateau play fairways.   To the west of the Savannakhet, in Thailand, there are oil seeps in the block, close to Unocal's Mukdahan 1 (1994-95) discovery and updip from its Huai Muk 1 (1994) well. The wells were drilled to investigate a series of sandstones from the Phu Kradung Formation to the Huai Hin Lat Formation (Triassic). Huai Muk 1 penetrated several intervals in the Phu Kradung and the Huai Hin Lat Formations and encountered gas shows. It was recognised that these sandstones would be generally tight, but previous drilling had indicated that some intervals had porosity up to 10% and where fractured, these zones had produced significant water kicks, indicating significantly enhanced permeability. Mukdahan 1 encountered gas and condensate and flowed a total of 70 Mcf gas.   Salamander Energy signed the Savannakhet PSC with the Laos Government, on 22 June 2007. At the time, Salamander Energy was operator, with 95% interest and the remaining other 5% interest was held by a local investor, LIBC. Salamander Energy plc and PetroVietnam Exploration Production Corporation (PVEP) signed a cross-assignment agreement on 4 March 2008. Under the agreement, Salamander assigned a 25% working interest in its operated Savannakhet PSC to PVEP and in return PVEP assigned a 20% working interest in Champasak & Saravan PSC to Salamander. Both parties would benefit from shared technical understanding and operational synergies as well as through an exploration portfolio with greater diversity. The Savannakhet block was previously owned by Enterprise Oil plc (1990 -1998), which acquired an extensive 2D seismic survey over the area and identified several significant leads, but did not drill any wells.  Salamander Energy relinquished the Savannakhet PSC at the end of the first three years of exploration term, in December 2010. Salamander has completed the seismic and one well obligation in 2008 and in 2010 respectively. With the relinquishment of Savannakhet block PSC, Salamander retained only one non-operated block in Lao PDR, the Champasak & Saravan block with 20% working interest.   Salamander completed the acquisition of 350 km 2D seismic in the block as part of its work commitment, as additional seismic in the block in August 2008. The company identified three promising prospects in the block in the Bang Hiang area. The survey had been supplemented with a geochemical survey. The prospects identified at the time were Bang Nouan and Non Chan (gas), and Bang Hiang (oil).   Salamander drilled one exploration well, Bang Nouan 1, in May 2010 with objective to test the Pha Nok Khao Formation of the Sara Buri Group. The primary objective was water bearing but gas shows were seen in the clastics of the Kuchinarai sandstone. A DST over the interval implied that the sandstones are tight and do not respond to fracture simulation. The well was plugged and abandoned in August 2010.
Camcan Energy Ltd continued to offer a farm-in opportunity in the Savannakhet PSC, located in onshore Khorat Plateau Basin, in April 2018. The company is planning to acquire a 2D seismic survey in the block, for the purpose of confirming potential well locations. 