document: Marque Oil & Gas is looking for partners to farm into licence P2409 (blocks 206/05a and 206/10a) which contains the Freya and Fulla undeveloped discoveries. Freya is interpreted to hold 35 MMbo mean recoverable resources (141 MMbo STOIIP) and Fulla to contain 25 MMbo STOIIP. Marque is currently interpreting new and existing 3D seismic, reprocessing 100 km of seismic and reprocessing log data. The company plan to acquire new high-density ocean bottom seismic during year 2 and 3 with a drill or drop decision being made before October 2024.     Freya and Fulla are located on the Rona Ridge close to the Clair field of which is an analogue to Freya. The Whiting Sands Unit and Clair Group reservoirs are trapped in a dip closure against a fault and sealed by the Cromer Knoll Group. Marque believe the economic success of Freya hinges on finding and drilling into a fracture zone to achieve similar flow rates to Clair. Fullaâs reservoirs consist of the Whiting Sands Unit and Victory Formation trapped from a combination of a pinchout and dip structure. The reservoirs are sealed by the Shetland Group and both discoveries are sourced by the Kimmeridge Clay Formation. Â   Freya was discovered by Mobil from exploration well 206/10a-1 in 1980 which penetrated oil bearing sands in the Devonian-Carboniferous Clair Group and in the overlying shallow marine Cretaceous Sandstones. Mobil proved a 300 m hydrocarbon column but DSTs were inconclusive as to why the well didnât flow to surface. Freya was deemed a heavy oil discovery due to having APIâs of less than 18Â° and a high viscosity which lead to Mobil abandoning the licence as the company decided it was sub-commercial. Faroe Petroleum acquired the acreage in 2004 where the company re-interpreted the oil samples and felt there was a possibility that the fluids were closer to 22Â° API which are found at Clair. Faroe conducted an economic assessment where the minimum economic field size was close to the mean reserve estimate and therefore Faroe would focus on Fulla where the economics were more robust. Fulla was discovered by well 205/5a-3 in August 2011 by Faroe. The well encountered oil in the Cretaceous and Faroe interpreted Fulla as having a breached residual oil column in the Clair Group indicating that the trap was once full. Faroe relinquished the licence due to the economics not meeting its minimum threshold.     Interest in P2409 is held solely by Marque Oil and Gas Ltd.
summary: Marque Oil & Gas is looking for partners to farm into licence P2409 (blocks 206/05a and 206/10a) which contains the Freya and Fulla undeveloped discoveries. Freya is interpreted to hold 35 MMbo mean recoverable resources (141 MMbo STOIIP) and Fulla to contain 25 MMbo STOIIP. 