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3 Exploration Licenses awarded to Grove in the Dutch North Sea
3 Exploration Licenses awarded to Grove in the Dutch North Sea.
About this update from Surge Copper Corp.
[{"type":"text","content":"\n\n\n\n\n>\n\nVANCOUVER, Oct. 19 /CNW/ - Grove Energy Limited (\"Company\") (TSX-V &\nAIM: GRV), the oil and gas exploration company with assets in Europe and the\nMediterranean Margin, has been awarded offshore Exploration Licenses F14, F18\nand L1b in the Dutch North Sea. These Licenses cover an area of 1,148 sq. km\nand contain a number of Upper Jurassic oil discoveries with significant\nvolumes of oil in place.\nThese discoveries were made in the early 1970's and 1980's by vertical\nwells but at the time were determined to be uncommercial despite flow rates of\n500 to 2,775 bop/d. However, with advances in seismic and drilling technology\nas well as improvements in regional infrastructure and supply fundamentals\nover the past 30 years, the reappraisal of these discoveries is warranted.\nGrove will initially undertake a geologic and geophysical study of the\nnew licenses , including the reassessment of existing 2D and 3D seismic and\nreservoir simulation models, with the aim of drilling further appraisal wells\non the known oil accumulations and where merited, any deeper gas potential.\nAll of the Jurassic oil discoveries and most of the remaining areas within the\nnew licenses are covered by 3D seismic of various vintages, which Grove\nintends to acquire and reprocess using special reprocessing and seismic\nattribute analysis.\nFollowing the new licence awards in the Dutch North Sea, Grove now has\nthree core areas of focus including the development of the Abbadesse discovery\nonshore in Italy and exploration programs on and offshore Tunisia.\nDr. Wolfgang Zimmer, President of Grove, commented that: \"We are very\npleased about the award of these highly prospective Exploration Licenses in\nthe Dutch North Sea. Again Grove has been able to acquire high quality acreage\nwhen access to acreage has become extremely difficult and competitive. The\naward of these blocks to Grove represents a low cost entry into a prolific oil\nand gas province of the North Sea.\"\nAdditional information on the Dutch North Sea can be found at\nhttp://dinolks01.nitg.tno.nl/dinoLks/NLOGPortal.jsp\n\nTo view a map of the 3 Exploration Licenses, please view the following\nURL: http://files.newswire.ca/515/DutchNorthSeaMap.doc\n\n>\n\nSome of the statements contained in this release are forward-looking\nstatements. Forward looking statements inclu...