P2428 – Cupertino

P2428 is a 30th Round licence located to the north-east of the Crosgan discovery and the to the west of the Cygnus gas field. Deltic reprocessed legacy 2D seismic across the area to pre-SDM in the 2nd half of 2019 which has significantly improved image quality over previous iterations. Interpretation work is ongoing and the Company believes that prospectivity exists at Bunter Sandstone, Leman Sandstone and Carboniferous levels. The Company will look to reduce its 100% equity position in this licence via farm-out in due course.

Block Details
Licence No: P2428
Award Date: 01/10/2018 (Phase A – 3 years)
Quads: 43/7 & 43/8
Area: 477km2
Equity position: 100%

Cupertino Lead

The Cupertino Lead is a three-way dip closed foot-wall trap structure extending across 52km2. The structure lies on the SW flank of a graben complex bounded by a NW-SE striking fault that forms a linked-lateral offset in the regional graben complex trend.

The Lead is mapped primarily on tight 2D seismic grid however the NW closure is mapped and confirmed on 3D seismic survey. The bounding fault is a large offset fault with over 400m of throw at the crest of the structure, with juxtaposition of sand and shales.

Williamson Lead

The Williamson Lead, identified by preceding licensees, is a Bunter Sandstone lead located in block 43/07 and is situated up-dip from the unsuccessful well 43/7-1. The Williamson lead takes the form of a 3-way dip closure against the salt filled Mesozoic graben to the north. A bright, structurally conformable amplitude anomaly is observed within the prospect between 1,500m and 1,450m. The distribution of the amplitudes within the structure map indicates the potential for salt plugging adjacent to the salt wall to the NW and thereby preventing gas from moving to the structural crest.

Resource Summary

 

Licence Ref DELT Equity Prospect Type PRMS Status Prospective Resource (BCF)
Risk Factor %
          P90 P50 P10  
P2428 100% Cupertino Scremerston Lead 69 262 914 21
Fell Lead 147 558 2089 30
Williamson Bunter Lead 10 20 40 33

Farm-in Opportunity

Given our 100% equity position in this licence DELT is actively looking to attract funding and / or an Operating partner to support the maturation of this asset.