Operations

Block 9/28a (Area B) - Crawford

Stratic has a 19% interest in Licence P.209 covering Block 9/28a which contains the Crawford field and associated prospects. The Crawford field owners, lead by operator Fairfield Resources, drilled a successful appraisal well late in 2007 confirming the extension of the Triassic Cormorant formation into the previously undrilled northern area of the field, and also proving up a shallower Tertiary accumulation in the Sele Formation.

Following the success of the 9/28a-18 well last year, the Crawford partners are working towards submitting a field development plan for the Triassic Cormorant formation, also capturing the Tertiary Sele reserves confirmed by the same well. The resource potential in the Tertiary formations of the Crawford licence has been de-risked by the 9/28a-18 well, and will be the focus of further technical review once the Triassic development has been confirmed.

The 9/28a-18 well penetrated 61 feet of oil bearing Tertiary Sele sandstones. The well confirms the structure identified at this level, and indicates that the oil is of a similar quality to the nearby West Brae and Sedgwick fields. The well was then deviated to encounter the deeper Triassic formations at 70° from vertical. A 1,200 foot section of oil bearing Cormorant formation was encountered by the well, equivalent to 400 foot of vertical section. For operational reasons, it was not possible to fracture and test the Cormorant formation however wireline data acquired over the Triassic interval provides strong encouragement to move ahead with development of the field.

Stratic expects to submit a field development plan late in 2008 targeting gross proved and probable reserves of 21.4 million barrels (4.1 million net). Current estimates have Crawford coming on stream in 2010.

The Crawford field initially came on production in April 1989 and ceased production in December 1990 after producing 3.9 million barrels, predominantly from the Middle Jurassic
Hugin formation. Overall field performance did not meet the expectations of the operator. The Crawford field was originally developed based on 2D seismic data and the field performance indicated that the field was more compartmentalised and complex than originally thought. A 3D seismic survey was shot over Blocks 9/27 and 9/28a in 1997 and reprocessed by Stratic and partners in 2004. Studies conducted on the field after the reprocessing have identified substantial volumes in the Triassic Cormorant formation, a formation that has since been successfully produced in nearby fields.

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Location Map of the
Crawford Area

Seismic section

Top Triassic Map