As previously announced, i3 has been assessing a structure in the northern portion of its 100% owned Licence P.2358 Block 13/23c, which it calls the Serenity prospect. Serenity is an amplitude supported feature that has an areal extent of circa 10 km2 and is interpreted to be the westerly extension into Block 13/23c of the Tain discovery. The Tain discovery well, drilled in September 2005, encountered 32° API oil in Captain and Coracle sands and was subsequently appraised by three wells.
i3 estimates Serenity to have a P50 STOIIP of 197 million bbls, bringing the total potential un-risked Mid case STOIIP within i3 Energy's licenced areas containing the Greater Liberator development and the Serenity prospect to greater than 500 million bbls.
Serenity provides i3 with exposure to low cost and potentially high return upside that could be tied in to either its Liberator Phase I or incremental Phase II infrastructure.
Majid Shafiq, i3's CEO, commented
"The Serenity prospect provides significant organic growth potential to i3 beyond our plans for the Liberator development and demonstrates the quality of the licence we acquired in the 30th Round."
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/13122018/i3-energy-provides-serenity-update/