OilVoice - High Resolution Ground Gravity Survey Completed on UK Dorset Licence

High Resolution Ground Gravity Survey Completed on UK Dorset Licence

Monday, December 22, 2008

Norwest Energy recently successfully completed a high resolution ground gravity survey over the PEDL 238 Dorset licence (Norwest 50%) which covers an area between Christchurch and Poole Harbour, including Bournemouth, along the south coast of England. The aim of the ground survey was to acquire an ultra-accurate gravity map which can be used to identify basement-involved structures at depths of 1800 to 2000 meters. Although analysis of the data is still ongoing, preliminary results indicate that several potential basement involved structures appear to be present within the license boundaries. Norwest’s PEDL 238 License is located adjacent to and just north of BP’s giant Wytch Farm oil field which to date, has produced over 400 million barrels of oil. With estimated recoverable reserves of nearly 500 million barrels, Wytch Farm is the largest onshore oil field in Western Europe and the sixth largest oil field in the UK (including the North Sea fields).

Norwest believes that the South of England has significant untapped potential for new hydrocarbon discoveries considering that to date, few other material discoveries have been made in the area since Wytch Farm was discovered by the Gas Council in 1973. This represents an anomalous trend when compared with oil and gas discovery statistics in geologic basins worldwide which typically show a bell curve distribution of discoveries. The fact that Wytch Farm is the only major discovery to date in the Wessex Basin (which extends across a large part of the South of England and includes both Norwest licenses) strongly suggests that more fields are waiting to be discovered in the Wessex Basin. Furthermore, the South of England has historically been largely overlooked and undervalued by industry compared with higher profile North Sea opportunities. Also, the area has presented exploration challenges due to geologic complexities, seismic imaging problems along with population density and environmental issues.

Recently appointed CEO Mr. Peter Munachen said:
“Notwithstanding these challenges our dedicated exploration team is up to the task before them which was demonstrated by their recent field activities during which 441 detailed gravity readings were taken over a three week period in order to complete the high resolution ground gravity survey at Dorset. Also, the approach of using Airborne GGI on the Isle of Wight is yet another step toward overcoming these exploration challenges which could lead to prospective drilling targets in both Dorset PEDL 238 and Isle of Wight PEDL 239.”