Exploration portfolio
Wilcox reservoir prospects
There is a multitude of high quality Wilcox prospects already in the inventory. One is a Heintschel “look-alike” and others of different nature occur in the original 3D area, while some are located elsewhere in Colorado and Wharton counties.
Peikert prospect
This is a Heintschel” look-alike” and is which is located in the CC3D area adjacent to the Heintschel field. It has the potential for up to 57 Bcf of gas and 1.6mmb condensate. The drilling of this prospect will follow further appraisal of the Heintschel field.
Moeller #2
We have a working interest of 38.5% and a net revenue interest of 30.03% in the prospect. Moeller 1 was drilled in the south-west of the Colorado County 3D area in May 2010. There were gas shows while drilling Moeller 1 but it tested water and minor gas from 33m thick, high porosity sand. Further testing determined that this reservoir will flow gas in commercial quantities if found in an updip location with higher gas saturations. 3D data defines a drilling location (Moeller #2) 475m updip and 53 metres high to the Moeller 1 location that could result in 10.4 Bcf gas and 0.24mmb condensate.
Wharton South
The Wharton South prospects are four separate structures, which were acquired in January 2010. Located in Wharton County, Texas, these prospects have potential for 41bcf gas in the Wilcox Reservoir and there is also a secondary, shallower, oil target.
Hill #2
This is located in Colorado County and is a four-way closure with potential for 5.7 Bcf gas and 0.17 mmb condensate.
Edwards reservoir prospect
A very large, deep prospect (called Woppa) with Edwards and deeper carbonate reservoirs has been identified in the 3D area. It is on trend from several large Edwards producing fields. Woppa has been remapped after acquiring and mapping the available 3D seismic over the very large, on-trend analogue Word Field (a 600bcf Edwards gas field). The Edwards carbonate prospect at Woppa was found to be very similar in 3D aspect to that at Word Field and could contain up to 350bcf of gas.
A secondary deeper, reefal target in the Woppa prospect has the potential of holding up to another 250bcf. The drilling of a well on Woppa remains subject to farmout.