Shell Oil are the operator of the potential 1 trillion cubic feet 'Inishowen' prospect in the Donegal Basin, comprising one whole and four part blocks (13/4s, 13/8s, 13/9, 13/13n, and 13/14n).
The Inishowen prospect is situated in shallow water (95m) and is 'a large tilted fault block structure thought to contain Early Triassic (Sherwood) reservoirs overlying Carboniferous source rocks and sealed by overlying Late Triassic (Mercia) shales and evaporates.'
Ramco Oil & Gas are the operator (70%) of the adjacent 'Inishbeg' and 'Inishtrahull' prospects, comprising one whole and two part blocks (13/7, 13/11ne and 13/12n) in approx. 120m of water. Ramco conducted a 220km "full-fold" seismic survey in this acreage and identified 'two large anticlinal structures' with high potential. Ramco are seeking farm-in partners before proceeding to an Exploration Licence.
Shell also operate the nearby deepwater Dooish prospect. Last year the 12/2-1 exploration well 'penetrated a substantial column of hydrocarbons'. Analysts think it could hold at least 400 million barrels of oil and "could be worth at least $10.5 billion dollars to Shell".
From the recent RNS by Island Oil & Gas:
The oil and gas interests being acquired by Island from Lundin in the transaction include:
*An option to acquire a 5% groundfloor participating interest in any future licence granted to Lundin Petroleum covering the Donegal Basin Block 13/7 and part blocks 13/11 and 13/12.
From ROS website:
Current partners in the Inishbeg and Inishtrahull prospects:
"Ramco is in dialogue with the Irish authorities in order to progress its interest over this area."
From recent Lundin press release:
"The transaction is... subject to certain conditions including Irish Government and partner approval."
"We will also actively pursue other direct opportunities offshore Ireland."
Note also that Lundin have only sold half their interest in Seven Heads Oil.
At the 'New Exploration Opportunities In Ireland' event held by the Petroleum Affairs Division of Ireland on 27-28 July 2004, Ramco did a talk on 'Exploration of the Donegal Basin'.
Ojsc Rostelecom Ads stock quotes
Ojsc Rostelecom Ads stock charts
Follow this thread
