document: North Sea Natural Resources (NSNR) is offering equity in licence P2321 to interested joint venture partners/investors in return for funding a 3D survey plus two appraisal wells and a well test with NSNR operating the seismic phase. The estimated cost for the 3D survey covering 1,580 sq km is between USD 6 â 10 million with two wells and test estimated to cost USD 35 million. The primary prospect is the Jurassic sand Devilâs Hole Horst, which NSNR has estimated to contain prospective resources of 2.3 Bbo (5.7 Bbo STOIIP) with a chance of success of 34%. The Lower Zechstein Dolomite Z1 prospect is estimated to hold prospective resources of 2.9 Bbo (14.6 Bbo STOIIP) and the Upper Zechstein Dolomite Z3 prospect has contingent resources of 134 MMbo (669 MMbo STOIIP). NSNR has derived a 60% and 75% chance of success for each dolomitic prospect, respectively. The work commitments involve a firm commitment to acquire 700 km of 2D seismic, a contingent 3D seismic survey and two wells are intended, costed and planned but are not a work commitment. The licence was awarded in the 29th Offshore Licensing Round in May 2017 and a drill or drop decision will be made in May 2021. As of February 2019, NSNR stated it was in talks with two major oil companies but the farm in opportunity was still available.   Devilâs Hole Horst is interpreted as a large stratigraphic closed structure with an area of 282 sq km. The prospect is located in shallow waters approximately 75 â 80 m. The reservoir is sourced from a Jurassic graben source kitchen and located on a Palaeozoic structural high. The prospect has similarities to the Johan Sverdrup field in Norway. The Lower Zechstein Dolomite Z1 prospect is a four-way dip closured structure with an aeral extent of 904 sq km. The Upper Dolomite Z3 prospect is too thin to be mapped but is interpreted to be a four-way closure at the Top Salt level.  The structure was first drilled in July 1697 by Amoco and discovered a 15 m pay with oil and gas shows. The dry tests on the discovery well failed due to cement damage to the reservoir. Amoco drilled 27/10-1 in June 1970 which encountered 53 m net reservoir, 1.5 m pay zone and reservoir porosities ranging from 20 â 24%. The OWC was calculated at a depth of 1,368 TVD.  Interest in P2321 is held solely by North Sea Natural Resources Ltd (100%).
summary: North Sea Natural Resources (NSNR) is offering equity in licence P2321 to interested joint venture partners/investors in return for funding a 3D survey plus two appraisal wells and a well test with NSNR operating the seismic phase. The estimated cost for the 3D survey covering 1,580 sq km is between USD 6 â 10 million with two wells and test estimated to cost USD 35 million.