TORONTO – Eco (Atlantic) Oil & Gas has received the latest data-set from the 2,550 sq km (985 sq mi) of 3D seismic recently acquired by Western Geophysical over the Orinduik block offshore Guyana, operated by Tullow Oil.
PGS Geophysical in the UK is processing the data. The package includes PSTM angle stacks and associated inversion products that have improved definition of the play’s geological lithology and better imaging of the sands, allowing targeted fluids to be more closely defined.
Tullow and Eco have started their review and have also forwarded the data toTotal, which has an option to farm into 25% of the block.
Eco (Atlantic) says it is encouraged by the quality of the data and interpretations to date, which have firmed up previously outlined targets and helped to identify further potentially sizeable structures.
Consultant Gustavson Associates is also interpreting the data with a view to producing an independent resource report for Eco (Atlantic) in accordance with AIM and TSX guidelines.
Tullow has advised that PGS should complete the intermediate Kirchhoff PreSDM in late May.
Colin Kinley, COO of Eco (Atlantic), said: “The company has the benefit of a significant 2D data set that ties into areas of the recent Exxon discoveries offshore Guyana, which are now estimated to exceed 3.2 Bbbl. This data ties back into our recently acquired 3D seismic and that has allowed us to better track the age and the quality of the sands and mechanisms that create the hydrocarbon traps.
“We interpret the charge from the source rock migrating up-dip and being trapped at various locations on the foreslope which is supported with each Exxon discovery downdip of us. This in turn, is giving us a better understanding of the features that allow those same hydrocarbons to feed up into the channel and fan systems on our block…
“The existence of multiple exploration targets on the block will be very significant, not only in the resource numbers, but also in the economics of this shallow water play, in terms of both drilling and potential development for our partnership, and for Guyana.”