Project Profile
Value: Undisclosed
Location: southern and eastern coast of the Republic of Seychelles
Reserves: 200 million bbl of oil
Area: 17,345 sq. km
Depth: 2,000 m (drilling targets below seafloor)
Start-up Year: -
WHL Energy holds a regional scale, 17,345 sq. km, early stage exploration acreage position on the Seychelles platform off the southern and eastern coast of the Republic of Seychelles. The area has geological affinities with the East Africa margin, which has become a focus of industry exploration attention due to the recent discovery of world class gas resources (100 Tcf) offshore Mozambique and Tanzania, and also Madagascar which hosts multi-billion barrel heavy oil deposits. The extensive geological and geophysical studies indicate that Seychelles acreage is oil prone. A new basin, the Correira Basin, is mapped in the east of the acreage on 2D seismic data acquired in 2010/11 which provides deeper geological imaging for the first time.
This basin is interpreted to contain oil prone potential source rocks which have a burial history that is favourable for oil generation and expulsion. A portfolio of some 20 exploration prospects and leads is mapped in WHL Energy’s areas in a variety of play types. In the east, the Junon structures are interpreted to be a focus for oil charge from the Corriera basin and are a priority to mature for drilling. The company has identified 10 leads with potential to hold 200 million bbl of oil. Most are in less than 50 m of water with drilling targets at 2,000 m below the seafloor. Acquisition of 3D seismic is planned to cover these structures. The In the west, the giant Beau Vallon structure, with billion barrel oil potential is mapped which will also be subject to further seismic acquisition. In addition to Junon and Beau Vallon, significant follow on potential is mapped in Junon North area (Junon NW, NE and Central) and the wider Beau Vallon area. A stratigraphic subcrop play is present on the flank of the Junon South structure (Creole).
The regional studies phase is completed and exploration in the area is now moving to the maturation of high graded targets for drilling through further seismic acquisition. Drilling is planned for the second half of 2015. WHL Energy has sought to introduce a high quality farm-in partner to the Seychelles project to support the next phase of exploration. Ophir Energy have elected to farm-in to earn 75% equity by carrying WHL Energy through 1500 sq kms of 3D seismic on the Junon structure and 90% of the cost of a well, with the option to exit the farm-in after the 3D seismic.
Operators:
WHL Energy: Operator with 25% interest
Ophir Energy: 75% interest
Contractors:
Dolphin Geophysical: Contract to undertake the 1500 km2 Junon 3D seismic survey over the Junon trend by the M/V Polar Duchess and is targeted to commence on 28 June 2014