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D503 BR-CS

License Details:

Area 82.61 km2
Status Exploration
Effective Date N/A
Opportunity Dalla prospect
Recoverable Resources up to 50.5 Bcf; Most likely 24.6 Bcf

Interests:

Sound Energy 100%

Permit Area History

The D503 BR-CS area is located in Zone B of the central Adriatic and the average water depth is 60 m. Geologically the area falls within the offshore of the Umbria – Marche region, a peri-foredeep trough of the Central Apennines. Numerous gas and oil discoveries surround this area.

The block contains a prospect called Dalla, considered analogous to Dora field. Dora is located close to the edge of the block and was discovered in 1972 by AGIP (ENI) and Shell, by the exploration well Dora-1. Dora is a gas-condensate discovery in the Late Cretaceous to Palaeocene Scaglia limestones. The discovery well tested 20.2 MMscfd.

In 1975 the permit was converted into concession B.C6.AS. The Dora-2 appraisal well was drilled in 1996 and again discovered gas, but the reservoir quality was inferior to that of Dora-1. The well tested only 0.6 MMscfd from same reservoir interval. The concession was subsequently relinquished in November 2005.

Recent Permit Activity

Sound Energy applied for the permit in 2009. To date only G&G data studies have been undertaken on the licence.

The most likely case recoverable resources for Dalla have been estimated to be 24.6 Bcf*.

* indicates that the figures are supported by a corresponding Competent Person’s Report.