Serica Energy is looking for partners to help fund the drilling of an exploration well in Frontier Exploration Licence (FEL) 1/09 or FEL 4/13 (previously OP 11/01). The Muckish prospect lies within a tilted fault block in FEL 1/09 and is analogous to the Dooish discovery, which lies 30 km to the south. FEL 4/13 contains two large pre-Cretaceous prospects, Aghla More and Aghla Beg. The company has interpreted the presence of turbidite fans in FEL 4/13. The largest fan forms the Derryveagh prospect and is draped over the top of the Aghla More prospect. Technical work carried out by Serica in 2018 investigated the similarities in geology of the prospects in FEL 4/13 compared to the Muckish prospect through seismic attribute analysis. The results of this work were inconclusive due to seismic noise and volcanic interreference. Following the results of this study, in April 2019 Serica announced that an exploration well which would penetrate Derryveagh and Aghla More is the highest ranked opportunity and the company is seeking a farm-in partner to join in drilling.   The Muckish prospect has an aerial closure of 31 sq km and vertical closure of 600 m. The prospect is interpreted to have a Permian to Middle Jurassic reservoir. Serica estimate P50 most likely recoverable resources of 1,285 Bcf and 85 MMbbl of condensate. Two further prospects, Muckish East and Mackoght, have also been identified in FEL 1/09 and are follow-up prospects in the event of success at Muckish. Aghla More is defined as a tilted fault block. Aghla Beg is a fractured basement play, with a seismic character analogous to the Lancaster and Clair fields, West-of-Shetlands, UK. Serica estimates P50 prospective resources for these stacked prospects in FEL 4/13 to be in the region of 4 Tcf and 250 MMbbl of condensate.   Interest in licences FEL 1/09 and FEL 4/13 is held solely by Serica Energy (UK) Ltd.  For further information regarding the Farm-out opportunity please contact:    Clara Altobell, International Asset Manager    Tel â 0044 (0) 207 487 7300    Email: Clara.altobell@serica-energy.com
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