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New 2D seismic data confirm the presence of the large Cretaceous four-way dip closure on the Newgrange prospect

23 June 2015

Seismic velocity analysis indicates significant porosity preservation within the Cretaceous reservoir target, and possible overburden shallow gas effects potentially supports hydrocarbon migration into the licence area


SOSINA today is pleased to provide an update on Frontier Exploration Licence (?FEL?) 6/14 (?Newgrange?). Our partner Providence Resources (80%) operates FEL 6/14 on behalf of SOSINA Exploration (20%), which lies in c. 1,000 metre water depth in the Goban Spur Basin and is c. 260 km off the south west coast of Ireland.


Providence has recently completed an initial evaluation of its licensed data from the newly acquired southern Porcupine Polarcus multi-client 2D regional seismic reflection survey. This initial work has been focused on the interpretation and mapping of the key Top Cretaceous reflection on the new long offset seismic profiles. The work has confirmed the previous interpretation that the Newgrange prospect comprises a significant c. 1000 km2 four-way dip closed structure. The crest of the Newgrange structure lies just c. 500 m BML and has a total structural elevation of c. 400 m. Current overburden fracture gradient analysis based on offset well data indicates a gas column top-seal capacity of up to c. 300 m. Both structural as well as stratigraphic imaging within the Newgrange prospect have been significantly improved with detailed carbonate seismic facies mapping now possible within the Cretaceous objective.


The Newgrange prospect reservoir interval demonstrates very low seismic velocities (c. 3,000 metres/sec) versus those seen in the offset 62/7-1 well, which encountered a c. 950 m gross section of predominantly porous Cretaceous carbonates. These seismic velocities would indicate porosities in excess of c. 30% at the Newgrange prospect.  Notable also are interpreted shallow gas effects in the Cenozoic overburden on the northwest flank of the prospect, which may provide evidence of hydrocarbon migration into the Newgrange licence. Further work on the Newgrange prospect is ongoing together with an evaluation of the underlying stacked Jurassic potential.

BML ? Below Mud Line (Seabed)
km - Kilometres
m ? Metres



Mr. John Ødegaard,

Chairman of the Board

Mobile: +45 27 26 00 03


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