Block XVII
Stratic has a 35% interest and operates Block XVII in Syria. This block sits
on the flank of the petroliferous Palmyride fold belt, and is bordered to the
north and east by developed gas fields. The main gas-bearing reservoirs
in the area produce from the Triassic Kurrachine dolomites; a play which is
expected to extend into Block XVII. The block covers some 5,076 sq. km and is located south of the Palmyra gas development area. In addition to Stratic's interest of 35%, KUFPEC holds 33.33% and DualEx (Syria) Inc. holds 31.67%.
Following the acquisition of infill seismic
over the northern part of Block XVII, a
number of prospects have been identified. A
well location has been approved by Stratic
and its partners for drilling late in 2008. The
well will target the Jebel Nasrani prospect,
and will test the Kurrachine Dolomite
play and two deeper sandstone targets
in the Amanous and Markada Sandstone
formations.
To the north of Block 17, gas has been discovered in a number of fields, with an estimated gas in place of some
4.0 tcf. These fields are primarily located in the Palmyride Fold Belt, which is an early Mesozoic rift located on
the northern flank of the Arabian Platform. The main gas-bearing reservoirs are located in the Triassic
Kurrachine dolomites.
Stratic believes that the block may prove valuable in the long-term, but there is still a significant amount of
work and investment required to demonstrate its exploration potential.
