Lansdowne participated in the successful appraisal well 48/24-10z which tested 43 degree API oil at 3514 bopd. Three previous wells tested oil in the Barryroe Licence acreage which lies directly below the Kinsale Energy Limited operated Seven Heads Gas Field. The reservoir sands are in the Cretaceous Middle and Lower Wealden sequences between 1,400m and 2,300m (approximately 4,600 to 7,550ft) below sea level.
Two wells drilled by Esso in 1973/1974 tested oil. Well 48/24-1 from Middle Wealden sands at an aggregate rate of 1300 barrels per day and 48/28-1 tested oil from a Middle Wealden sand at 1527 barrels per day. A third well, 48/24-3 drilled by Marathon in 1990, tested oil from Lower Wealden sands at an aggregate rate of 1619 barrels per day.
Following integration of the successful appraisal well results the updated Oil In Place P50 Resource estimate by the Operator for Barryroe is 1,048 mmbbls.
In July 2017 Licence SEL 1/11 was extended, such that the First Phase will continue through to July 2019 and the overall terms of the licence through to July 2021.
In August 2017 the Operator, Providence Resources, issued a letter seeking Expressions of Interest from drilling rig owners for the drilling of a further appraisal well on the Barryroe Field, to be drilled in the Second Half of 2018/First Half 2019.
Planning is underway for the drilling of this well.
Meanwhile, the farm-out process is continuing in parallel, with discussions continuing with a number of parties.