Project Profile
Location: Licences, 1/09 and 2/09, Jutland onshore region of South Western Denmark on the southern edge of the Northern Permian Basin, Denmark
Reserves: 147MMboe (combined P50 recoverable resource)
Area: 1.015 million acres
Start-up Year: -
The Danica Jutland Project, totalling 1.015 million acres, consists of two onshore oil and gas licences, 1/09 and 2/09, located in an under-explored area of the Jutland on-shore region of South Western Denmark on the southern edge of the Northern Permian Basin. On 11 October 2011, New World Oil and Gas completed two Farm-Out Agreements (FOA) to acquire up to an 80% participating interest in Licences 1/09 and 2/09, totalling 4,107 sq km of highly prospective territory in both the Zechstein carbonates and Triassic sandstone intervals. The FOAs were agreed between the Company’s wholly-owned subsidiary New World Jutland ApS (NW Jutland) and Danica Jutland ApS (DJ), the joint-holder of the Licences with an 80% working interest alongside the Danish North Sea Fund, which holds the remaining 20% on a fully-paying basis. Phase 1 identified 10 prospects/leads, while combined P50 recoverable resource volume 147MMboe.
RPS Energy highlighted the prospectivity of the Licences in an initial Competent Person’s report which reported significant evidence pointing to the presence of a working hydrocarbon system on the southern flank of the Northern Permian Basin, where the significantly sized licences are located. RPS reported that features visible on the available seismic data have the potential to be reef build-ups and should further seismic coverage prove the existence of reefs and/or shoal facies, that these would be likely to make excellent reservoirs increasing the overall prospectivity of the licence blocks. The seismic data carried out in nearby areas have structurally conforming amplitude (bright spot) and/or AVO (amplitude versus offset) anomalies that are often direct indicators of gas - amplitude anomalies are found in Triassic Bunter Sandstone gas fields in the South Permian Basin, suggesting that the Licences have the potential to contain multiple productive natural gas and gas condensate reservoirs.
Phase 1 of a multiphase seismic acquisition programme confirmed all eight Zechstein and two Triassic leads and prospects previously identified in the first CPR that had been based on pre-existing 2-D seismic data. Of these, the two Triassic gas prospects, ‘Jelling’ and ‘Harboe’, have been assigned a Probability of Geologic Success of 1 in 8 by RPS Energy in its capacity as a Competent Person, while the Zechstein oil prospect, ‘Jensen’, has been rated at 1 in 12.
Operators:
New World Oil and Gas (through New World Jutland ApS (25%) and Danica Jutland ApS (55%)): Operator with 80% interest
Danish North Sea Fund: 20% interest