Review boosts prospectivity of offshore Ireland licenses

Fastnet Oil & Gas has provided an update on its exploration activities in the Celtic Sea offshore southern Ireland.

May 23rd, 2014

Offshore staff

DUBLIN, IrelandFastnet Oil & Gas has provided an update on its exploration activities in the Celtic Sea offshore southern Ireland.

Over the company’sDeep Kinsale acreage, analysis of 3D seismic has confirmed five potential reservoir targets with potential for substantial in-place oil. Identified structures are up to 140 sq km (54 sq mi) in size, and oil has been logged in the area in legacy wells 48/20-1a and 48/25-1.

Analysis has also confirmed potential for reservoir development and has reduced the risk of reservoir compartmentalization. Both issues held back previous farm-out efforts, which were based on limited 2D seismic coverage

Over the Mizzen area, 3D seismic has confirmed potential for a new frontier exploration basin that Fastnet describes as the conjugate margin equivalent of the Flemish Pass and Jeanne d’Arc basins offeastern Canada. Both hold large hydrocarbon fields and recent discoveries.

Additionally, the 3D data has defined new amplitude-supported potential gas structures and large stratigraphic traps, with prospects for multi-tcf in-place gas.

05/23/2014

More in Geosciences