Providence: Ruadhan Seismic Shows Paleocene Potential in FEL 1/14

Providence Resources announced that Capricorn Ireland Limited has recently completed an initial assessment of the Paleocene within FEL 1/14 using the newly-acquired 2014 Ruadhan (previously referred to as “Spanish Point South”) 3D seismic survey.

This interpretation has demonstrated the presence of a significant north-south orientated Paleocene deepwater channelised system that covers a minimum c. 14 km2 area and which had been evident on the previous 2D seismic profiles.

However, these new data provide a significant improvement in the detailed imaging of the system and indicate that the previous 1988 Amoco (now part of BP) operated 35/18-1 well was drilled into a channel margin location which is consistent with Amoco’s post-drill interpretation. The 35/18-1 well encountered a gross c. 70m interval of Paleocene deep-water sands which exhibited good porosities (c. 20%) but low permeabilities (0.4 mD-13 mD) at a depth of c. 3,000 m BML.

Strong gas shows (up to 3%) were encountered whilst drilling and a conventional core was described by Amoco as bleeding ‘light tan oil’. As currently interpreted, the channel extends southwards and down-dip out of the Ruadhan 3D survey area into the southern part of FEL 1/14 which is covered by existing 2D seismic data. Further assessment of the exploration potential of the channel, together with additional Tertiary, Lower Cretaceous and pre-Cretaceous objectives, is continuing, the company said.

John O’Sullivan, Technical Director commented:

“Similar to our recent experience with the Paleocene Druid prospect in FEL 2/14, modern 3D seismic imaging is again playing the key role in understanding the true nature of these potentially material Tertiary stratigraphic traps. These newly-acquired 3D seismic data allow for a significant uplift in our understanding of the previous 35/18-1 well supporting Amoco’s channel margin interpretation whilst also potentially pin-pointing the location of the channel axis reservoir sweet spot. Whilst these early observations are positive, further detailed seismic and well analyses are required in order to understand whether any potential resources associated with the main channel axis would merit the drilling of a new offset well.”   

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