San Leon Energy and its partner, Lundin, have announced the completion of the 300 km2 3D seismic acquisition programme covering the Slyne Basin exploration licence F4/06 along the Atlantic Margin, offshore Ireland. The programme was completed in 15 days with 100% of the proposed survey acquired under budget. The data is currently being processed with final interpreted results expected by December.
San Leon has eight offshore Ireland assets, comprising four operated licences on the Atlantic Margin and four Celtic Sea assets. The Celtic Sea assets involve two operated licences, one non-operated petroleum lease, and one licence option. They include the Seven Heads gas-producing fields and the Old Head of Kinsale (OHK) as well as Schull gas field development projects. The assets are located close to the SW Kinsale gas storage facility, the biggest Irish gas storage project, which utilizes the nearby Kinsale field for gas injection and production facilities. The existing infrastructure nearby suggests the development of OHK and Schull as gas storage facilities is a very real possibility. San Leon’s West of Ireland interests are located in a variety of geological basins on the Atlantic Margin and they are believed to represent significant opportunities for gas and oil prospects. The company says its in-depth evaluation has revealed that the potential of the five Atlantic Margin licences is on a par with what was discovered in the North Sea back in the 1980s. One licence alone is estimated to have 150 million barrels in place, while the Porcupine C1 prospect is particularly exciting in that it has the potential for over one billion barrels in place, according to San Leon.
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