Hansa offers share in Thoresby

Offshore staff

HOUSTON -- Hansa Hydrocarbons is seeking partners for two blocks in the UK southern North Sea, according to brokers Indigo Pool.

The company has 100% interests in blocks 48/16a (License P1695) and 48/16b (License P898), the latter including the 85 bcf Thoresby field.

This summer, Hansa plans to drill an appraisal well in the east of the field with the aim of confirming commerciality. Indigo Pool says the dry hole cost for the well is estimated at $13 million, with the cost of a DST in the event of success around $7.3 million. The successful farminee would have to pay a promoted share of the appraisal well.

Thoresby has been delineated by wells 48/16b-2, drilled in 2002, and 48/16b-3z, drilled in early 2009. Both encountered gas-bearing Leman sandstones. In November 2009, Hansa started subsurface studies to address critical issues prior to development, which included acquisition of a high resolution 2D survey, seismic reprocessing (anisotropic PSDM), and construction of static and dynamic reservoir models.

The results have increased confidence in the forthcoming appraisal well proving up commercial reserves from a mean GIP of 200 bcf, and of base case recovery of 85 bcf via a conventional two-well development. The upside case suggests reserves of 126 bcf from three wells.

Hansa has performed conceptual engineering studies leading to a preferred development scheme and export route. If the appraisal well is successful, first gas could follow late in 2012, initially at 60 MMcf/d. Negotiations for the offtake route are advanced, and a site/route survey should be conducted in May.

03/23/2011

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