Project Profile
Value: Undisclosed
Location: West of the B.R268.RG Permit block, onshore central Italy
Reserves: Unknown
Area: 615.45 km2 (152,076 acres)
Water Depth: approximately 1,500 metres to 4,500 metres
Start-up Year: -
The Civitaquana permit, located onshore central Italy, west of the B.R268.RG Permit block, covers an area of 615.45 km2 (152,076 acres) and received final ministerial approval on July 27, 2007 for an initial period of six years. CYGAM has a 60% working interest plus a 5% free carried interest in all exploration costs in the Civitaquana permit and is also the operator. Reprocessing of purchased data and acquisition of additional 60 km of 2D seismic data will follow. If seismic interpretation validates the preliminary assessment of the Permit potential, CYGAM plans to drill a well to test either shallow Miocene sandstones or deeper Cretaceous-Jurassic targets.
Three primary targets are believed to exist on the Civitaquana block: a Miocene calcarenite at a depth of approximately 1,500 metres, the Cretaceous Maiolica Formation and the Jurassic carbonates of the Massiccio Formation at a depth of 4,000 to 4,500 m. An additional objective is represented by the Cretaceous Scaglia Formation, which can be encountered at drilling depths of approximately 2,500 to 3,000 m. Existing seismic lines suggest the possibility of large structures and stratigraphically controlled prospects. One structure, already identified and named “Ambrosio” prospect, could be drilled as a Miocene and/or Jurassic prospect.
Operators:
CYGAM: Operator with 60% interest
Petroceltic: 40% interest