Seismic survey to start on Seychelles blocks

WHL Energy Ltd., Sydney, will purchase SEYCO Energy Pty. Ltd., an entity that is acquiring rights to a large exploration holding on the southern continental shelf off Seychelles in the Indian Ocean.

By OGJ editors
HOUSTON, Oct. 26
– WHL Energy Ltd., Sydney, will acquire SEYCO Energy Pty. Ltd., an entity that is acquiring rights to a large exploration holding on the southern continental shelf off Seychelles in the Indian Ocean.

The holding includes 35 exploration blocks totaling more than 5 million acres in a prospective area in shallow water 100 km off the Seychelles coast.

On completion of the transaction, WHL Energy plans to further assess the hydrocarbon prospectivity of the Seychelles blocks. Fugro is programmed to begin acquisition of 7,000 line-km of 2D seismic over SEYCO’s blocks in November 2010 at a cost of $7 million. A seismic vessel is enroute.

The planned survey will focus on 20 mapped structures identified from 2D seismic previously acquired over the nominated blocks.

The previously identified leads in the mapped structures include:

Beau Valon, a giant drape structure estimated both by the previous operator Texaco and the current operator to be capable of holdilng as much as 3 billion bbl of oil equivalent;
Coetivy Bank, a four-way dip closed structure with repeatable HC seep that has been mapped with 200 m of vertical closure over an area in excess of 100 sq km;
Junon Bank, a supergiant fault block mapped by a number of operators to have more than 450 m of vertical closure over an area exceeding 650 sq km. The oil upside on this structure is world class; and
Creole, a giant stratigraphic pinchout trap with associated seismic hydrocarbon indicators including gas chimney and a possible flat spot interpretation extending 24 km downdip from the pinchout termination.

The previously drilled wells also confirmed quality reservoirs with over 20% porosity in some of the sandstones and limestones and evidence of an active petroleum system.

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