Slyne & Rockall Basin Opportunities FEL 4/13, 1/09 and 1/06, Atlantic Ireland PROSPEX, London, December 2014
Ireland Atlantic Exploration • Shared geology with UK, oil, condensate, gas Vøring discovery / field Faroe & Norwegian Atlantic Halten Carboniferous basin margins Triassic basin • Serica’s acreage covers many Jurassic basin Møre Cretaceous basin pre, syn and post-rift plays Flood Basalt / oceanic crust • FEL 1/09 & 4/13 Rockall Faroe- FEL 1/09 Basin: higher risk, high reward Shetland plays with significant pre-rift structural and post-rift FEL 4/13 stratigraphic potential Dooish UK Rockall Discovery • FEL 1/06 Slyne Basin: proven low-risk structural plays within Irish Rockall Jurassic and Triassic Slyne • Drill-ready prospects mapped Corrib Field on 3D seismic Bandon Porcupine Discovery • No need to have to bother FEL with licence applications! 1/06 2
FEL 1/09 and FEL 4/13 Introduction • Serica 100% interest in FEL 1/09 & 4/13 FEL 1/09 • Significant tilted fault blocks FEL and stratigraphic traps 4/13 clearly defined on 3D seismic data in approximately 1500-2000m water depth • AVO supported Albian turbidite fan (Derryveagh Prospect) overlying tilted fault block (Midleton Prospect) • Both Derryveagh and Midleton can be targeted with one well • Muckish Prospect is a tilted fault block analogous to the Dooish Discovery 3
Midleton Prospect vs. Dooish Discovery 12/2-1z Dooish Discovery Dooish Erris E W 12/2/1,1z Ridge (Shell / Enterprise, 2002-3) sTWT Lr. Cret 4 Top Maastrichtian Middle Jurassic 214m wet gas-condensate column Top Turonian 5 4018mDD Pre-BCU Tertiary Base syn-rift intrusive MDT sample Cretaceous sTWT Derryveagh SW NE Prospect average average (up-dip termination) Top Ø 14% Ø 14% 4 Palaeocene Top Maastrichtian Permian Nr. Top FWL Albian 4136mSS 5 (not full to spill) Mid Aptian Base Midleton Cretaceous West Midleton Pre-BCU 6 Prospect Prospect syn-rift 4
FEL 1/09 and FEL 4/13 Pre-Rift Potential Prospects and Leads Mapped at Base Cretaceous • Muckish Prospect analogous to the Dooish Discovery • 31 km 2 areal closure and 600 m of vertical closure • follow-up prospects in the event of success Derryveagh Dooish Prospect Discovery Mackoght West Midleton Midleton Muckish Depth Perspective on Muckish N East Base Cretaceous 5
FEL 1/09 & FEL 4/13 Stratigraphic Potential Early Cretaceous Turbidite Fans & Analogues Erris Ridge NW 12/13-1A SE 12/13-1A Derryveagh Prospect Thick early Cretaceous shallow marine to deltaic sandstones proven in 12/13-1A Top Palaeocene Jubilee- Ghana Top Maastrichtian Nr. Top Midleton Albian Prospect Base Cretaceous Analogous Play: UK Faroe-Shetland Basin Additional South (Larsen et al , 2010) stratigraphic Tano High Mass flow potential? turbidites up-dip pinchout Syn-rift Late Cretaceous shallow Turbidite Fan marine sands 6
FEL 1/09 & FEL 4/13 Stratigraphic Potential Albian Derryveagh Prospect Possible well Albian Amplitude overlain on Base Midleton Derryveagh location sTWT Cretaceous Depth Map Prospect Prospect NW SE (edge of) Albian Fan RMS Amp. 4 +/- 50ms, nears-fars Top Palaeocene Top Maastrichtian Base Chalk 5 Intra Albian Albian Derryveagh Midleton Fan Mid 6 Aptian West BCU Midleton XL3580 Bottomseal: Lower Possible well Cretaceous shales location and/or Pre-BCU syn-rift • Stratigraphic Albian turbidite fan (Derryveagh Prospect) exhibiting Class I AVO anomaly • The play is well established in UK West of Shetlands and the Porcupine Basin • Excellent sand source proven in 12/13-1A and from eroding pre-rift highs • A single well could test both Derryveagh and the underlying Midleton Prospect 7
FEL 1/09 & FEL 4/13 Stratigraphic Potential Albian Derryveagh Prospect – 3D Visualisation Albian RMS amplitude drape over depth Potentially analogous Albian fan, Midleton Prospect West Midleton Tano Basin, Ghana, West Africa underlying structural Prospect underlying (Houston Geological Society, 2011) high structural high Up-dip pinch-out of fan over Midleton Prospect structural high Feeder channel West Midleton Midleton Albian turbidite fan: Derryveagh Prospect N turbidite fan sills N Albian frequency decomposition drape over depth 8
PROSPECTIVE RESOURCE INVENTORY Resources Play P 90 P 50 mean P 10 270 1285 1635 3442 bcf Pre- Muckish 18 85 108 227 mmbbls Rift Pre- 17 78 98 205 bcf Muckish East Rift 1 5 6 14 mmbbls Pre- 15 72 90 189 bcf Mackoght Rift 1 5 6 13 mmbbls 293 1431 1902 4062 bcf Pre- Midleton 19 94 126 268 mmbbls Rift Pre- 165 786 999 2103 bcf West Midleton Rift 11 52 66 139 mmbbls Derryveagh work in progress * Resource estimates are based on latest Serica in-house interpretation 9
FEL 1/06 Introduction • • Boyne Prospect is a large FEL 1/06 operated by Serica tilted fault block clearly (50%) in partnership with defined on 3D seismic RWE data, with a dual target • Close to Serica’s 27/4-1,1z (Jurassic and Triassic) Bandon Oil Discovery and 40 and total P 50 reserves of kms south of Corrib Gas 80 mmbbls oil (Serica Field estimate) • High quality Lower Jurassic and Triassic reservoirs proven in offset wells • Proven oil source in Jurassic and gas source in Carboniferous on-block • Water depth 250m • Achill and Liffey prospects with significant upside FEL 1/06 10
Slyne Basin Petroleum System Two Proven Plays Proposed Boyne 27/5-1 27/4-1,1z E W well location TWT(s) Oil shows in high quality 0.5 Middle Jurassic 150m thick immature sandstones oil prone source rocks in Lower Jurassic Triassic 1.0 Sherwood Boyne Sandstone Bandon Discovery: Prospect 38m oil column in high quality Lower Carboniferous 1.5 Jurassic sandstones Coal Measures Ro 0.7% + Middle Triassic Jurassic Sherwood 2.0 Lower Sandstone Jurassic Permian 27/4-1z oil halite sample 2.5 Mature oil Triassic Mature gas prone prone Lower Carboniferous Jurassic source rocks source rocks • Lower Jurassic reservoirs sourced • Triassic reservoirs sourced by by up-dip oil migration from source Carboniferous coals, via windows kitchen in Permian halite • Concept proven by the Bandon Oil • Concept proven by the Corrib Discovery 27/4-1,1z Field 40 kms to north 11
FEL 1/06 Boyne Prospect Dual Jurassic & Triassic Objectives Boyne Prospect WNW ESE Proposed Well (offset) Top Bajocian Limestone Proposed Top Lower well location Jurassic Top Sherwood Sandstone Possible oil charge Top Permian Top Top Triassic (Sherwood of Sherwood Sst Halite Carboniferous across fault Sandstone) Depth Map 12
FEL 1/06 Resource Inventory Resources P 90 P 50 mean P 10 * Resource estimates are based on Boyne Jurassic 9 31 45 96 mmbbls latest Serica in-house interpretation either Boyne 8 49 134 312 mmbbls Sherwood or Boyne 33 199 513 1213 bcf Sherwood Liffey Jurassic 6 38 104 245 mmbbls Liffey Sherwood 74 281 473 1059 bcf Achill Sherwood 58 313 716 1689 bcf • Two proven hydrocarbon systems • Well-defined structural prospects on high- quality 3D seismic data • Reservoir potential at more than one level • Boyne Prospect is ready to drill • Significant equity is available in return for drilling an exploration well 13
Slyne & Rockall Basin Opportunities FEL 4/13, 1/09 and 1/06 For further details, Please visit the Serica stand, or contact Clara Altobell, International Asset Manager clara.altobell@serica-energy.com tel +44 (0)20 7487 7300
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