Talon Petroleum is searching for farm-in partners to fund a well to drill the Rocket prospect in licence P2392 (blocks 28/8b & 28/9b) in return for significant equity. The prospect is located in the Central Graben near the Catcher Area where Palaeocene aged Cromarty Sandstone reservoirs are trapped stratigraphically to form the AVO anomaly supported Rocket prospect. Encounter estimate Rocket to hold most likely STOIIP of 68 MMbo with an upside of 150 MMbo. The well cost is estimated at GBP 7 million.Â Talon acquired the previous licence holder Encounter Oil on 15 May 2019 and announced that it had received strong interest from potential partners and is confident in securing partners in the near term.   The Cromarty B1 Sands are expected to be present at the Rocket prospect with the sands having similar characteristics to the Bonneville field 4 km to the east of the prospect. Encounter estimate net to gross to be within the region of 90 metres, porosities of 32% and the sands are interpreted to be ponded in the hanging wall of the N-S fault system. A salt high in the north and east creates a drape structure providing dip closure. In the west and south dip closure is formed from a combination of an upthrown closure and a stratigraphic pinch-out at the base of the depositional slope. The crest of the structure lies at 3,050 feet with a maximum closing contour of 3,400 feet. The API is estimated to range between 24Â° and 31Â° with GORâs of 200-300 scf/stb.Â The licence was awarded on 1 October 2018 in the 30th Seaward Licensing Round.  Interest in P2363 is held solely by Talon Petroleum Ltd (100% + operator).  For further information please contact:Â   Graham Dore  Tel: +44 (0) 7718 883610  Email: graham@encounteroil.co.uk
United Kingdom, P2363