P215 - Oil & Gas

1) Licence information
21/29c Relinquishment Document
Licence : P.215
Block(s) : 21/29c South West
Location : Western Platform, CNS
Operator : EnCore Petroleum (51.62%)
Co-venturers : Petro-Canada (5.00%)
Nexen (18.98%)
Maersk (24.41%)
Date Award /Lic Rd : 16/03/1972, Round 4
Expiry Date : 15/03/2018
Area : 45.1 sq km
Work Commitment : Fulfilled
Seismic Surveys : Quad 21 Western 1997
Wells Spud TD Fm Result
21/29b-1 1978 Cretaceous P&A dry hole
21/29b-2 1982 Zechstein P&A oil shows
Block(s) : 21/29c South East
Operator : EnCore Petroleum (61.32%)
Co-venturers : Nexen (18.98%)
Maersk (14.71%)
PetroCanada (5.00%)
Date Award /Lic Rd : 16/03/1972, Round 4
Expiry Date : 15/03/2018
Area : 30 sq km
Work Commitment : Fulfilled
Seismic Surveys : Quad 21 Western Geophysical 1997
reprocessed for Shell 1998
Wells Spud TD Fm Result
21/29b-4 1982 Zechstein P&A oil well
21/29b-9 1991 Palaeocene P&A oil well
2) Exploration activity
Seismic purchase, reprocessing and rock physics work
The Group purchased the WesternGeco spec survey covering 21/29b and two Shell
proprietary surveys covering adjacent block 21/30S. A total of 226 sq km of data was
reprocessed in 2006/2007 (Kirchoff PSTM) with deliverables including:
1. Full Offset Stack
2. LMR volumes
3. Gathers.
Extensive rock physics modelling of the Tay and Forties sand systems was undertaken. The
key conclusions were:
• The seismic response from the Tay sandstone shows a class 3 AVO response when
oil or gas replace brine; the response strengthens with increasing thickness and HC
saturation of the oil or gas column
• A brine filled sand would be invisible on the seismic data at depths of 5800 ft
21/29c Relinquishment Document Page 1 of 7 October 2007

7
L
• Oil filled sands should look similar to gas filled sands on the crossplot
• There should be clear discrimination of hydrocarbon zones provided the zone is of
sufficient thickness
The reprocessed data outline is illustrated below.
FYNE "
2
5
3
B
"
GUILLEMOT WEST
7
5
3
!
LO! 7ZST1,2
O! O!
9A 6A
8Z
D
4
5
L
GUILLEMOT A
GANNET C
L!
6
&
DANDY
19 2
GANNET F
13*,13ST
FYNE "
2
5
3
B
"
GUILLEMOT WEST
7
5
3
!
LO! 7ZST1,2
O! O!
9A 6A
8Z
D
4
5
L
GUILLEMOT A
GANNET C
L!
6
&
DANDY
19 2
GANNET F
13*,13ST
FYNE "
2
5
3
B
"
GUILLEMOT WEST
7
5
3
!
LO! 7ZST1,2
O! O!
9A 6A
8Z
D
4
5
L
GUILLEMOT A
GANNET C
L!
6
&
DANDY
19 2
GANNET F
13*,13ST
b
O!
1AB
28/4b
L
1
3) Prospectivity Analysis
3 21/29b
L 2
B
1
L
28/4a
4
B
L
!
!
4
11
!
21/29c Relinquishment Document Page 2 of 7 October 2007
9
!
GANNET E
21/30S
28/5a
28/5b
12 16
!
!
2
L
O"O
B
1
!
15
14
!
&
17
18
L
4
L
29/1a
29/1b
Two discoveries within the Tay Sandstone and one prospect within the Forties sand system
have been evaluated on 21/29c.
Forties Play
Grasshopper Prospect
A structurally robust four-way dip closure with stratigraphic trapping upside is identified within
the Forties sand system updip and to the southwest of the Gannet E Field. The structure has
a crest of 5240 ft with a most likely closing contour of 5390 ft. Additional stratigraphic closure
could extend the closing contour to 5440 ft. The structure is updip of Wells 21/29b-1 and
21/29b-2 where excellent quality Forties sands were encountered.
Conclusions from the AVO evaluation were:
• Paleocene Gannet E has a weaker AVO signature that is not restricted to the 4-way
dip closure. The weaker response is probably due to the drop in API and GOR from
36 and 400 down to 24 and 88, respectively.
• Grasshopper has a weak AVO that is not confined to closure. The zone here is 400ft
shallower and probably lower API and GOR
B
2
1
B

Grasshopper Upside
Stratigraphic closure of
Forties Sst
Top Forties Sandstone Depth Structure Map
Grasshopper (F)
4-way dip closure at Top
Forties Sst
0 3km
SW Grasshopper
21/29b-1
NE
Top Forties
Seismic Line across Grasshopper
Grasshopper Spill point of
Stratigraphic closure of
Forties Sandstone at 5440 ft
Grasshopper Deterministic Volumetrics
21/29c Relinquishment Document Page 3 of 7 October 2007
Balder
Chalk
Grasshopper Prospect - 4 way dip Upper Forties Forties only
Minimum Most Likely Maximum
Crest ft 5240 5240 5240
Closing Contour ft 5390 5390 5390
Hydrocarbon column ft 150 150 150
Gross Reservoir Thickness ft 100 100 100
Gross Rock Volume acreft 22,686 22,686 22,686
Net:Gross % 55 75 95
Porosity % 25 28 28 31 31
Sh % 75 75 80 80 85 85
FVF bbl/stb 1.2 1.15 1.1
Rec Factor Oil % 20 30 40
STOIIP
MMBO
Total 15.1 25.7 40.1
Reserves
MMBO
Total 3.0 7.7 16.0
Grasshopper Prospect - Strat
Upper Forties only
Minimum Maximum
Crest ft 5240 5240
Closing Contour ft 5440 5440
Structural Closure 5390ft
Hydrocarbon Column
Gross Reservoir Thickness
ft
ft
200
100
200
100
Gross Rock Volume acreft 44,249 71,804
Net:Gross % 75 75
Porosity % 28 28
Sh % 80 80
FVF bbl/stb 1.15 1.15
Minimum Case Stratigraphic
Closure 5440 ft
Rec Factor Oil % 30 30
Maximum Case
Stratigraphic Closure 5440 ft
STOIIP
MMBO
Total 50.1 81.4
Reserves
MMBO
Total 15.0 24.4

Well 21/29b-2 CPI
Tay Play
Crabtree Discovery
The Crabtree discovery was made by Well 21/29b-9 which encountered a hydrocarbon
column with an OWC at 5762 ft within Tay Formation sands. 27 deg. API was recovered from
RFT, no DST was conducted. There is no obvious closing mechanism to this discovery and it
is assumed that the trapping mechanism is stratigraphic. The outline of the discovery is
potentially defined by the amplitude response within the Tay interval. AVO modelling of these
amplitudes indicate that they are mostly increases in acoustic impedance and may represent
reservoir presence and not necessarily a hydrocarbon indicator.
Top Balder Depth Structure
21/29b-9
Crabtree Amplitude
Outline
0 4km
21/29c Relinquishment Document Page 4 of 7 October 2007

Tricia
Tay Formation Amplitude Extraction
Well 21/29b-9 CPI
Crabtree
0 4km
SW 21/29b-4
21/29b-9 NE
Seismic Line across Crabtree
OBJECTIVE:TO TEST
STRATIGRAPHIC EXTENSION OF
21/30-12
ACCUMULATION TO THE WEST
INTO BLOCK 21/29B.
RESULT:18 FEET OF
OILBEARING SAND AT TOP TAY;
RECOVERED 27o OBJECTIVE:TO TEST
STRATIGRAPHIC EXTENSION OF
21/30-12
ACCUMULATION TO THE WEST
INTO BLOCK 21/29B.
RESULT:18 FEET OF
OILBEARING SAND AT TOP TAY;
RECOVERED 27 API OIL
AVERAGE HC SAT. 71%;
AVERAGE POROSITY 34%;
CLEAR OWC AT 5837’ (5762’SS)
EST GOC 5738’ (5665’ SS)
RESIDUAL HC SATURATIONS
(30%) FROM 5835’ – 6020’.
o API OIL
AVERAGE HC SAT. 71%;
AVERAGE POROSITY 34%;
CLEAR OWC AT 5837’ (5762’SS)
EST GOC 5738’ (5665’ SS)
RESIDUAL HC SATURATIONS
(30%) FROM 5835’ – 6020’.
WELL NOT TESTED
Gross Interval 236 ft net
Net Sand 69 ft net
21/29c Relinquishment Document Page 5 of 7 October 2007
Tay
Balder
Chalk

Edge of Tay Sst
Fairway
Balder to Tay Amplitude. Balder Depth Structure
Crabtree Deterministic Volumetrics
Tricia Discovery
Crabtree Discovery Minimum Most Likely Maximum
Closing Contour ft 5762 5762 5762
Areal Closure acres 29 494 1,069
Gross Reservoir Thickness ft 30 40 50
Gross Rock Volume acreft 783 17,784 48,105
Net:Gross % 70 80 90
Porosity % 32 34 36
Sh % 70 75 80
FVF bbl/stb 1.2 1.15 1.1
Rec Factor Oil % 20 30 40
STOIIP
MMBO
Total 0.8 24.5 87.9
Reserves
MMBO
Total 0.2 7.3 35.2
The Tricia discovery was made by Well 21/29b-4 which encountered a hydrocarbon column
within Tay Formation sands. 24 deg. API was recovered from RFT, no DST was conducted.
RFT pressure data indicates a potential OWC at 5180 ft TVDSS. There is no obvious closing
mechanism to this discovery and it is assumed that the trapping mechanism is stratigraphic.
The outline of the discovery is potentially defined by the amplitude response within the Tay
interval. AVO modelling of these amplitudes indicate that they are mostly increases in
acoustic impedance and may represent reservoir presence and not necessarily a
hydrocarbon indicator.
Top Balder Depth Structure
Edge of Tay Sst
Fairway
0 4km
21/29c Relinquishment Document Page 6 of 7 October 2007

Licence :
P.2
15
Block(s) :
Well 21/29b-4 CPI
Tricia Deterministic Volumetrics
Tricia Discovery Minimum Most Likely Maximum
Closing Contour ft 5057 5057 5076
Areal Closure acres 66 350 1,020
Net Reservoir Thickness ft 15 25 40
Gross Rock Volume acreft 891 7,875 36,720
Net:Gross % 100 100 100
Porosity % 32 34 36
Sh % 75 80 85
FVF bbl/stb 1.2 1.15 1.1
Rec Factor Oil % 20 30 40
STOIIP
MMBO
Total 1.4 14.5 79.2
Reserves
MMBO
Total 0.3 4.3 31.7
21/29c Relinquishment Document Page 7 of 7 October 2007