The licence contains the Colter oil discovery located 2 kilometres south of the Wytch Farm oilfield. Colter was originally drilled by offshore well 98/11-3 in 1986 which recovered oil on test from a 10.5 metres oil column within the Triassic Sherwood Sandstone, the main reservoir at Wytch Farm. Recently merged and reprocessed 3D seismic data has identified potential up-dip of the discovery well. The Company plans to drill an offshore well on Colter during 2019 using a Jack-Up rig. Should the well be commercially successful, development would be via extended-reach wells from onshore as per Wytch Farm. Pmean Prospective Resources are estimated at 23 million barrels of oil equivalent (gross). Corallian holds a 49% interest in the licence and is Exploration Operator.
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The 11/24b-4 exploration well was completed in January 2019. The well was drilled to a total depth of 1,000m. The objective of the well, the Beatrice Sandstone, was encountered at a depth of 933.5m but is water bearing.
Provisional petrophysical analyses indicate that the Beatrice Sandstone has a gross thickness of 22.8m with 19.8m of net sandstone of 17.2% average porosity.
The remaining prospectivity in the licence is under review.
The licence contains the Tertiary Curlew-A oil accumulation discovered by well 29/7-1 (Shell, 1979). The discovery well found light oil in Tertiary Odin and Cromarty Sandstones (net 10.5 metres oil sands) within a salt-cored anticline. The anticline covers an area of approximately 21 square kilometres.
Corallian plans to drill an appraisal well in H2 2019 to a depth of approximately 2,700 metres sub-sea in a water depth of approximately 90 metres.
A Competent Person’s Report (CPR) on Curlew-A was completed by Software Information Solutions, Schlumberger Oilfield UK (SLB) in October 2018. 2C Contingent Resources are estimated at 45 million barrels of oil equivalent (gross).
Corallian holds a 90% interest in the licence and is Exploration Operator.
The P2222 licence contains the Oulton oil discovery. A well on Oulton in 1974 recovered oil on test from the Jurassic Emerald Sandstone. P2398 is located on the flank of the Jade, Jawdaw and Blane fields. Coraliian hold a 100% interest in the 2 licences.
These licences contain the Purbeck Prospect, an anticline which was drilled by the Southard Quarry-1 well in 1989, logging 8 metres hydrocarbon column in the Jurassic Bridport Sandstone. New seismic data was acquired over the prospect in 2016. Corallian holds a 49% interest in the licences and is Exploration Operator.