P2497 Block 20/4c (Zermatt) – JOG 100% Working Interest

Licence P2497 Blocks 20/4c contains the Zermatt and Chamonix prospects and the Courchevel lead.

Zermatt

The licence is classed as an Initial Term, Phase A with a two (2) year duration to perform technical studies to evaluate further the exploration potential in Block 20/4c. The licence working obligations include a Drill or Drop obligation to be elected after two (2) years.

Zermatt prospect

The Zermatt J64 prospect concept is a combined stratigraphic-structural trap, involving termination of an Upper Jurassic isopach thick on to the flanks of the surrounding highs. A J63 to J64 reservoir interval is proposed, with the top, lateral and base seals provided by claystones of the Kimmeridge Clay Formation. Source intervals are organic rich claystone of the Kimmeridge Clay and Heather formations.

Chamonix prospect

The Chamonix J62 prospect concept is a combined stratigraphic-structural trap, involving termination of an Upper Jurassic isopach thick on to the flanks of the surrounding highs. A J62 reservoir interval is proposed, with the top, lateral and base seal by claystones of the Upper Jurassic Kimmeridge Clay Formation (KCF). Source intervals are organic rich claystone of the Kimmeridge Clay and Heather formations.

Chamonix underlies the Zermatt prospect hence both prospects can be drilled with one exploration well. Combined mean recoverable prospective resource estimates for the two prospects are 64MMboe.

Courchevel lead

Courchevel is a lead mapped at Late Jurassic, Sgiath Formation level. The lead is a down faulted trap, with a potential stratigraphic pinch-out towards north in the maximum case. A shallow marine Sgiath Formation sandstone reservoir is proposed, with the top, lateral and base seal provided by claystones of the Upper Jurassic Heather Formation. Source intervals are organic rich claystone of the Upper Jurassic Kimmeridge Claystone Formation and Heather Formation.