Enegi acquires Gulf of St. Lawrence license

Enegi subsidiary PDI Production (PDIP) has acquired a 100% interest in the St. George’s Group play on Exploration License 1070 from Shoal Point Energy (SPE) and Canadian Imperial Venture Corp. (CIVC).

Offshore staff

LONDON -- Enegi subsidiary PDI Production (PDIP) has acquired a 100% interest in the St. George’s Group play on Exploration License 1070 from Shoal Point Energy (SPE) and Canadian Imperial Venture Corp. (CIVC). In exchange, Enegi will transfer its interest in an unconventional shale play to SPE and CIVC.

EL1070 is in Port au Port Bay in the Gulf of St. Lawrence, offshore Newfoundland and Labrador, Canada. The area has water depths of less than 100 m (328 m). Targets within the bay are reachable by directional drilling from onshore surface locations, the companies say.

The license features two principal play types: the conventional structural play in the middle Ordovician platform carbonates of the St. George’s Group, which has produced hydrocarbons at Garden Hill South and an unconventional shale play in the Middle Cambrian to Lower Ordovician Green Point Formation, which produced oil in historic wells on Shoal Point and produced hydrocarbons during drilling.

11/20/2009

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