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Ram Head Licencing Option 16/30 Technical Update
Ram Head Licencing Option 16/30 Technical Update.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 8245X Predator Oil & Gas Holdings PLC 02 May 2019 \n\n2 May 2019\n \nPredator Oil & Gas Holdings Plc\n(\"Predator\" or the \"Company\" and together with its subsidiaries \"the Group\")\n \nLicensing Option 16/30 offshore Ireland Technical Update (\"Ram Head\")\nCompetent Person's Report (\"CPR\") Prospective Resources Audit \nby SLR Consulting (Ireland) Ltd\n \n \nHighlights\n \n· CONCEPTUAL RAM HEAD P50 GAS FIELD DEVELOPMENT IS FEASIBLE WITH MINIMUM OF 10 WELLS TO BE COMPLETED IN 3 GAS ZONES\n· POTENTIAL ULTIMATE TECHNICAL GAS RECOVERY BY DEPLETION DRIVE OF 96%, REPRESENTING 1.773 TCF OF GROSS RESOURCES\n· INITIAL PRODUCTION PLATEAU ESTIMATED AT 400 MM CFGPD \n· DEVELOPMENT OPTIONS INCLUDE 40KM 24\" PIPELINE TO END OF EXISTING KINSALE FIELD PIPELINE OR 75KM 20\" PIPELINE TO EXISTING INCH ONSHORE TERMINAL \n· TECHNICALLY FEASIBLE TO RE-ENTER 49/19-1 MARATHON GAS DISCOVERY\nAT AN ESTIMATED TOTAL COST OF $20.2 MILLION TO FLOW TEST 3 GAS ZONES\n· STRONG INDIGENOUS MARKET FOR GAS\n \n \n \nPredator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company, with a portfolio of upstream gas assets adjacent to European gas infrastructure entry points, is pleased to provide a Prospective Resources update and Conceptual Gas Field Development Plan for Ram Head in Licensing Option 16/30, offshore Ireland. \n \nLicensing Option 16/30 is operated by Predator Oil and Gas Ventures Ltd. (POGVL 50%), a wholly-owned Predator Oil & Gas Holdings Plc subsidiary, on behalf of its partner Theseus Ltd. (\"Theseus\" 50%).\n \nReservoir Deliverability and Impact on Resource Estimates\n \nWireline neutron-density logs show a gas effect over a gross Middle and Upper Jurassic interval of 270 feet in discovery well 49/19-1, drilled by Marathon in 1984/5, with about 80 feet of potentially productive sand. The potential gross gas column could reach 400 feet. This was not tested at the time in 1984 because there was no commercial incentive for Marathon. Marathon's Kinsale Gas Field fully catered for the Irish gas demand and there was no interconnectors with the UK for export. \n \nNuTech detailed petr...