Victoria Petroleum Acquires Interest in Onshore Texas Exploration
Victoria Petroleum announced the completion of the acquisition of a 20% working interest in the El Fatso gas and condensate exploration project, located in the onshore Gulf Coast, Wharton County, Texas. The El Fatso Prospect will be drilled by the Schoenfield #1 well which will target three stacked seismic amplitude and AVO defined prospects in a lower Yegua sand fairway between 11,000 ft and 13,000 ft Measured Depth. The targets, if hydrocarbon bearing, are expected to contain gas and condensate in encased sand bodies laid down as deltaic fans or turbiditic channels. The operator has estimated unrisked potential recoverable resource of up to 72 BCF and 6.5mmbc (P10) from the three separate sands, if gas is present, to be tested with a single deviated well. The un risked P90 potential resource estimate is 19.7 BCF and the P50 potential resource is 30 BCF. The target sands are gas productive in neighbouring fields to the north of the prospect. The drilling of the well is expected to commence in late December and it is anticipated to take 30 days to reach the proposed total depth of 13,700 ft MD.
VPE Aquires Interest in Onshore Texas Exploration 28 Nov 07
