Gas prospects emerge from offshore Ireland seismic

Offshore staff

DUBLIN, Ireland – Lansdowne Oil & Gas sees potential for a new gas cluster development off southern Ireland, based on interpretation of a recently processed 3D seismic survey.

This was acquired last summer over the company’s Rosscarbery license area in the North Celtic Sea, covered by Standard Exploration License 5/07, and comprising part-blocks 48/17, 48/18, 48/19, 48/22, and 48/24.

Last year’s 3D program took in the Galley Head gas discovery and other prospects in the license area.

Lansdowne now interprets Galley Head as containing 30 bcf with 25 bcf technically recoverable.

The pre-drill estimate of in-place gas for the shallow lower Cretaceous A Greensand and Upper/Middle Wealden gas prospects is 254 bcf, with potentially 199 bcf recoverable.

Interpretation continues to ascertain whether oil could also be present at basal Wealden levels in the licensed area.

The Carrigaline gas discovery, outside the area covered by the survey, has estimated recoverable volumes of 60.8 bcf.

CEO Steve Boldy said Galley Head “now looks more promising than previously thought, along with a number of other identified gas prospects as interpreted by 3D seismic. Should drilling prove successful there would appear to be scope for a cluster development of these prospects in due course.”

4/16/2012

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