Business
Darwin Independent Evaluation
Darwin Independent Evaluation.
About this update from Borders & Southern Petroleum Plc
[{"type":"text","content":"\n \nRNS Number : 1543G Borders & Southern Petroleum plc 28 February 2018 \n\n28 February 2018\n \nBorders & Southern Petroleum plc\n(\"Borders & Southern\" or \"the Company\")\n \nDarwin Independent Evaluation\n \nBorders & Southern (AIM: BOR), the London based independent oil and gas exploration company with assets offshore the Falkland Islands, announces the results of an independent evaluation of the Darwin East discovery and the adjacent Darwin West untested fault block.\n \nHighlights\n \n· Substantial increase in estimated resource. Un-risked Best Estimate total recoverable liquids (condensate and LPG) for Darwin East and West is 462 MMbbl.\n· The geological chance of success of finding hydrocarbons in a well located on Darwin West is assessed to be 0.81.\n \nBorders & Southern asked Gaffney, Cline & Associates (GCA) to perform an independent evaluation of the Darwin East gas condensate discovery along with the adjacent, technically similar fault block, Darwin West. GCA was given access to the Company's extensive 3D seismic and well data, including technical studies, interpretations and dynamic models of the reservoir. \n \nGCA's comprehensive analysis confirmed Borders & Southern's geological interpretations and derived the following estimate for Wet Gas Initially in Place:\n \nEstimated Wet Gas Initially In-Place (Bscf)\n\n\n\n\n \n\n\nLow\n\n\nBest\n\n\nHigh\n\n\n\n\nDarwin East\n\n\n659\n\n\n1,096\n\n\n1,759\n\n\n\n\nDarwin West\n\n\n1,361\n\n\n2,110\n\n\n3,160\n\n\n\n\nNote: Borders & Southern is the operator with a 100% working interest\n \nIt was noted that the untested Darwin West fault block displayed very similar seismic characteristics and attributes to the Darwin East fault block. The geological chance of success of finding hydrocarbons in Darwin West was assessed to be 0.81.\n \nComposition analysis of the hydrocarbon samples collected in the Darwin discovery well (61/17-1) demonstrated that the gas is a very rich, sweet gas capable of producing liquid condensate and LPG. Borders & Southern has previously discussed development concepts whereby the liquid condensate could be produced and the \"dry\" gas re-injected back into the reservoir, allowing it to be available for a future LNG project...