San Leon progresses Ireland surveys

Offshore staff

DUBLIN, Ireland – PGS Exploration’s Ramform Vanguard has completed a 250-sq km (96-sq mi) 3D seismic survey for off western Ireland. The program was commissioned by San Leon Energy to evaluate the prospective C1 lead in license FEL 1/04 in the Northern Porcupine basin.

San Leon has an agreement with PGS Ventures, under which the latter is providing a $50-million facility for seismic services, part of which was used for this survey. San Leon expects to appoint data processing contractor(s) in the next few weeks, and to complete seismic processing this fall.

Also off western Ireland, the company continues to interpret a 300-sq km (116-sq mi) 3D survey over Slyne basin license FEL 4/06. Progress has been delayed by complex structural issues and significant surface volcanics, which have affected imaging of some of the survey areas. However, the initial interpretation is encouraging, and San Leon plans to open a data room in August/September.

After taking on OMV’s 50% interest in Rockall basin license FEL 3/05 in March, San Leon was unable to secure a seismic survey vessel for the permit this summer. It now expects to apply to the Irish government for a license extension. The company is considering options for data acquisition/analysis of the South Porcupine basin license FEL 3/0. These include 2D/3D seismic and controlled source electromagnetic data acquisition, with a view to attracting a farm-in partner.

Elsewhere, an 840-sq km (324-sq mi) 3D seismic survey was completed in April over the company’s Durresi block offshore Albania.

Western Geophysical is processing the data in London, and should deliver the final package around October. In the meantime, parallel interpretation and prospect generation will continue. This program is designed to evaluate numerous prospective structures, including the A4-1X discovery, ahead of a planned exploration and appraisal drilling program next year.

06/23/2011



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