Pakistan Petroleum Announces Farm-in Exploration Opportunity

Sunday, July 4, 2010

Pakistan Petroleum Limited (PPL) invites interested parties to contact them to discuss farming into the following four assets either as a package or individually.

Background:
Recent extensive studies conducted in-house and by consultants reviewing years of data and interpretation indicate the presence of significant hydrocarbon resources in the sedimentary basins of Pakistan.

The frontier Balochistan Basin, the Sulaiman Foredeep Basin and the Lower Indus Basin in particular offer significant hydrocarbon resource potential.

Exploration in these licenses is expected to convert conventional and unconventional hydrocarbon resources in to reserves. There are stratigraphic traps, tight gas, shale gas etc.

Pakistan is 'energy starved' with a domestic market requiring vast quantities of oil and gas. The government of Pakistan is offering favourable fiscal terms. Likewise PPL is offering very favourable terms to farm into these exploration licences and we encourage you to contact the principals at PPL to discuss this further.

Dera Ismail Khan Block Overview:
The block lies in the Sulaiman Foredeep with Sargodha High in the East, Khishor & Marwat Ranges in the North, Sulaiman Foldbelt in the West and the Zindapir anticlinorium in the South. The development of Sulaiman Foredeep is related with an uplift of the Sulaiman Range, which is believed to be related to early and late Tertiary inversion of extensional and trans-tensional basins along the northwest margins of the Indian continental plate.

The Dera Ismail Khan block is comprised of a westward dipping monocline with the Cretaceous to Eocene age Formations gradually truncating eastward against the Base Oligocene Unconformity. The molasse of Oligocene to Pliocene age are overlying the unconformity. At surface the Block is covered by the flood plains of river Indus which is passing through the northern part of the block.

The block contains the stratigraphic play at Eocene and Paleocene levels. The Sembar Formation (Cretaceous) is the proven source rock in the nearby Dhodak & Salsabil Gas Fields, which lies in the Gas window in the West of D. I. Khan block. The primary reservoir targets are the Stratigraphic pinch out of Habib Rahi Limestone (Eocene) and the truncations of Lower Ranikot Formation (Paleocene). The Secondary target is the Pab Sandstone (Cretaceous). The seal is comprised of Intra Eocene Shales and the Shales of Chitarwata Formation (Oligocene) above the Base Oligocene unconformity. The Lower Ranikot and Pab Sandstone are the proven Gas/Condensate reservoir in the Dhodak and Salsabil Gas Fields.

The Kamiab-1 well (Amoco, 1974) drilled in the East encountered the significant Gas shows in the Lower Ranikot Formation.

Based on the evaluation of available 2D Seismic and well data, it is likely to identify the stratigraphic pinch out at Habib Rahi Limestone level in the Eastern part of the block and in-house studies are in progress to delineate this.

Sirani Block Overview:
The Sembar Formation (Lower-Cretaceous) is the proven source rock in the area. Sands of Lower Goru Formation (Lower Cretaceous) are producing in nearby fields and have good reservoir quality. Shales of Upper Goru & intraformational shales provide the seal. Tilted Faults Blocks are expected in the Block.
• Four leads identified on vintage seismic data. New seismic likely to yield more leads
• Proximity to the producing Badin Oil fields to the west
• Possibility of finding additional leads in southern marshy area where no seismic data has been acquired. Good shows encountered in some wells in the block
• Nearby existing infrastructure
• Low cost drilling operations as minimum problems are expected.
• Early production through Extended Well Testing (EWT)

Naushahro Firoz Block Overview:
The Naushahro Firoz block lies in a zone with a proven petroleum system from different reservoirs. The Zamzama gas condensate discovery (2.3 Tcf and 12 MMbo)) from Late Cretaceous Pab sandstone lies to the west and Sawan gas discovery (1.5 Tcf) from Lower Cretaceous Lower Goru sandstone lies to the East of the block. Sui Main Limestone (SML) of Eocene age is a proven reservoir in a number of discoveries (over 2 Tcf reserves) located in the north of the block. The reservoir quality of SML is also proven by the Sagyun-01 well drilled in the block and wells drilled in the surrounding area. One lead and a possibility of another lead identified at SML level on sparse vintage data. New 2D seismic acquisition planned in first year of exploration license is expected to delineate more leads. New seismic data will also aid the stratigraphic potential of Pab truncations and Cretaceous Lower Goru sandstone.

Jungshahi Block Overview:
The Jungshahi block lies to the east of two gas discoveries. An untested surface lead is separated from a gas field by a broad syncline. The Block is close to the Kitchen area. Untested surface anticlines are present in the block. Proven reservoir rocks of Paleocene and Cretaceous are present. Significant gas shows have been observed in Lower and Upper Ranikot formations in the wells drilled in the block. The Block is located close to an existing gas pipeline / infrastructure and commercial hub at Karachi. Early production is expected through EWT.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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