Europa Oil & Gas (holdings) Plc · LSE:EOG
Europa Oil & Gas (holdings) — Atlantic Ireland 2012
27 slides from Europa Oil & Gas (holdings)'s conference presentation, Nov 12, 2012
Slide 1: Prospects 2 Go: Mullen prospect, LO 11/7
Atlantic Ireland 2012 Prospects 2 Go Mullen prospect, LO 11/7 Hugh Mackay Europa Oil & Gas 12 November 2012
Slide 2: Location and licence details
Location and licence details • LO 11/7 & LO 11/8, 200km • ~ 1000 km2 each • 100% Europa • License Option – 1Nov 11 – 31 Oct 13 • Apply for Frontier Exploration Licence LO 11/7 – Relinquish minimum 25% – 15 years, 4 phases – seismic and well LO 11/8 commitments
Slide 3: Porcupine Basin Water Depth (m)
Porcupine Basin Water Depth (m) Burren lower Cretaceous oil discovery ~700 bopd Dunquin Middle Cretaceous Carbonate LO 11/7 Mullen prospect drill Q1 2013 Lower Cretaceous play Line of section 800m-1400m water depth, limit of fixed LO 11/8 Kiernan platform Lower Cretaceous play 1400-2000m water depth
Slide 4: South Porcupine Basin Cross Section
South Porcupine Basin Cross Section NW SE Dunquin play on ‘PMVR’ Mullen Kiernan Aptian play Valanginian (West) play (East) Jurassic Pre-rift plays Jurassic Pre-rift plays PMVR: Porcupine Median Volcanic Ridge Cross-section courtesy of PhysicalGeo Limited
Slide 5: Reservoir
Reservoir • Lower Cretaceous sands of the Mullen (West) and Kiernan (East) prospects are deposited as deepwater turbidite channels • Coincident with local uplift events on the basin margins – Mullen (West) is fed by an Aptian channel, immediately above the Mid Aptian Unconformity (118my, Chron M0) –
Slide 6: Base Cretaceous Depth map (m)
Base Cretaceous Depth map (m) • Combined map of Late Cimmerian Unc. and PMVR structure. 35/30-1 • Arrows indicate possible Lower Cretaceous sand provenance directions ‘PMVR’ – From Porcupine High in West – From Munster basin (ORS) in East 150km
Slide 7: Mullen – Jurassic source maturity
Mullen – Jurassic source maturity Top Jurassic maturity 35 My Top Jurassic maturity 0 My Mullen Mullen LO 11/7 LO 11/7
Slide 8: Mullen – Cretaceous source maturity
Mullen – Cretaceous source maturity Lower Cretaceous maturity 35 My Lower Cretaceous maturity 0 My Mullen Mullen LO 11/7 LO 11/7
Slide 9: Sea Bed - Base Tertiary isopach (m)
Sea Bed - Base Tertiary isopach (m) • Tertiary isopach illustrates variable thickness of overburden between the north and south – 2000m in South Porcupine vs up to 4000m in the North Porcupine – As a consequence source rocks will be less buried and may spend longer in potential maturation window dep
Slide 10: Mullen Aptian Depth Map (m)
Mullen Aptian Depth Map (m) Strike Line Geological section P1 closure P50 closure P90 closure Dip Line Jurassic Play Fairway 43/13-1 LO 11/7
Slide 11: Geoseismic Sections: Mullen Dip Line
Geoseismic Sections: Mullen Dip Line W E MULLEN PROSPECT Barremian shales
Slide 12: Geoseismic Section: Mullen Dip Line
Geoseismic Section: Mullen Dip Line W E MULLEN PROSPECT Mid Aptian Unconformity and correlative conformity Barremian shales
Slide 13: Geoseismic Section: Mullen Dip Line
Geoseismic Section: Mullen Dip Line W E MULLEN PROSPECT Lateral/Updip pinch out of turbidite sandstone reservoir Mid Aptian Unconformity and correlative conformity Barremian shales Deposition of Mid-Late Aptian turbidite reservoir
Slide 14: Geoseismic Section: Mullen Dip Line
Geoseismic Section: Mullen Dip Line W E MULLEN PROSPECT Development of Late Aptian- Early Albian marine mudstone top seal Lateral/Updip pinch out of turbidite sandstone reservoir Mid Aptian Unconformity and correlative conformity Barremian shales Deposition of Mid-Late Aptian turbidite reservoir
Slide 15: Geoseismic Section: Mullen Strike Line
Geoseismic Section: Mullen Strike Line N S MULLEN PROSPECT Barremian shales
Slide 16: Geoseismic Section: Mullen Strike Line
Geoseismic Section: Mullen Strike Line N S MULLEN PROSPECT Mid Aptian Unconformity and correlative conformity Barremian shales
Slide 17: Geoseismic Section: Mullen Strike Line
Geoseismic Section: Mullen Strike Line N S MULLEN PROSPECT Lateral/Updip pinch out of turbidite sandstone reservoir Mid MidAptian AptianUnconformity Unconformity and correlative conformity Lateral pinch out Barremian shales of turbidite Deposition of Mid-Late sandstone Aptian turbidite reservoir res
Slide 18: Geoseismic Section: Mullen Strike Line
Geoseismic Section: Mullen Strike Line N S MULLEN PROSPECT Lateral/Updip pinch out of Development of Late Aptian-Early Albian marine turbidite mudstone top seal sandstone reservoir Mid MidAptian AptianUnconformity Unconformity and correlative conformity Lateral pinch out Barremian shales of turbidit
Slide 19: Geoseismic Section
Geoseismic Section MULLEN PROSPECT Mid Aptian Unconformity and correlative conformity 43/13-1
Slide 20: Analogues- African transform margin
Analogues- African transform margin Cretaceous turbidite sandstones in stratigraphic traps
Slide 21: Mullen Volumetrics and Resources
Mullen Volumetrics and Resources P90 Geo P50 amp P10 Geo GRV m3 x106 890 3,980 11,099 Resources mmbbl 66 318 1,092 Mean resources 482 mmbbl Closure defined by structural and stratigraphic mapping Amplitude supported closures
Slide 22: Prospect Reserve Size Cut-off for Porcupine Basin
Prospect Reserve Size Cut-off for Porcupine Basin Basin immaturity (and risks) suggests minimum drillable prospect size is around 200 mmbbl despite lenient fiscal regime
Slide 23: De-risking
De-risking • Objective – mature prospect to drillable status • Current work integrate 2D reprocessed data • Further work: – Undertake more reprocessing to support geophysical studies – Rock physics and AVO studies – Build business case for 3D survey – Aim to de-risk prospect through conformance, fla
Slide 24: Western 1997 survey (PSB97)
Western 1997 survey (PSB97) Original 1997 processing
Slide 25: TGS WesternGeco 2012 Reprocessing
TGS WesternGeco 2012 Reprocessing Provisional Improved S/N, resolution and continuity of events Uplift in Cretaceous stratigraphic detail, and Jurassic pre rift structure Data shown courtesy of TGS and WesternGeco
Slide 26: Farmout
Farmout • Europa has 100% equity in L0 11/7 and 11/8 • Objective is to accelerate exploration in both licences • Seeking a joint venture partner to share seismic acquisition and (if justified) drilling
Slide 27: For further information contact: Europa Oil & Gas (Holdings) PLC
For further information contact: Europa Oil & Gas (Holdings) PLC 6 Porter Street London W1U 6DD UK Telephone +44 20 7224 3770 mail@europaoil.com www.europaoil.com