Project Profile
Value: US$10 million
Location: PL1/10 (Central Larne - Lough Neagh Basin), Ireland
Area: 663 square kilometres
Licence award: March 4, 2011
Start-up year: -
The Larne/Lough Neagh basin is underexplored in onshore terms but it appears to contain all the prospective elements to warrant further exploration of this large Permo-Triassic basin. Gravity and magnetic studies have given credence to the possibility of encountering structural complexes which are similar to the prolific East Irish Sea basin. The petroleum exploration licence PL1/10 (Central Larne - Lough Neagh Basin) was awarded in March 2011. The licence covers an area of 663 square kilometres. The initial licence term is five years with a decision on drilling a well required within three years.
Tesla Exploration International Limited completed a Vibroseis seismic programme in November 2011. Over an eight week period, a total of 288 kilometres of 2D seismic data were acquired in County Antrim along a series of 13 individual lines traversing, Antrim, Newtownabbey Carrickfergus and parts of Larne and Ballymena. Tesla will be undertaking a further infill seismic programme over petroleum licence PL1/10 during June 2012. The decision to undertake the new survey was taken after completion of the interpretation of the 2011 seismic data. The PL1/10 partners were very encouraged by the identification of several large leads. The new seismic programme will comprise 100 kilometres of 2D Vibroseis data to refine the structural interpretation over the high-graded leads, and identify a suitable location for drilling the first exploration well. In august 2015, Larne Oil and Gas, who exercised an option to acquire an interest in the project in September 2014, run into funding difficulties and exited the project.
Operators:
Terrain Energy: Operator with 22.50% interest
Tudor Hall Energy: 15% interest
CORFE Resources Limited: 18.75% interest
Baron Oil: 12.50% interest
Horizon Energy: 20% interest
Petro River UK: 11.25% interest
Contractors:
Fugro Seismic Imaging Limited: Processing of seismic data
Merlin Energy Resources: Interpretation of the seismic data
Tesla Exploration International Limited: 3D seismic survey