Busy 2009 seen in western Newfoundland

Dec. 22, 2008
Vulcan Minerals Inc., St. John’s, expects a busy year in several exploration plays in Newfoundland and Labrador in 2009.

Vulcan Minerals Inc., St. John’s, expects a busy year in several exploration plays in Newfoundland and Labrador in 2009.

Vulcan plans to drill a 3,600-m exploration well, Robinson-1, onshore in the Bay St. George basin that would be the basin’s deepest well ever. It is on a seismically defined structure with several prospective reservoirs.

A drill pad is being built for the well, which is the culmination of several years of seismic work and shallow drilling. Vulcan’s 50% working interest is to be carried fully by Investcan Energy Corp.

Vulcan plans to drill two other wells 1,500-2,500 m deep onshore in the basin and is reviewing the prospect for completing two 150-m core holes at Flat Bay to sample for natural fracture systems.

Leprechaun Resources Ltd., private Alberta company, has become operator of three onshore permits at Parsons Pond, western Newfoundland, in which Vulcan holds 7.39-18.57% interests. Leprechaun is raising funds.

The Parsons Pond area covers 100,000 acres of Cambrian-Ordovician platformal rocks in an area of numerous oil seeps, and seismically defined drill targets occur as deep as 4,000 m, Vulcan noted.

Vulcan owns 19% of the stock of NWest Energy Inc., which holds 100% working interest in 1.6 million acres off western Newfoundland. The blocks cover a Cambrian-Ordovician-Silurian platform and foreland basin rocks with petroleum potential. NWest is shooting seismic and seeking partners for drilling.

Meanwhile, Vulcan and Investcan plan to explore 584,466-acre License 1107 off Labrador. The license offsets two undeveloped gas discoveries and has several seismic leads. Investcan’s interest is 50%.