ST LAURENT LICENSE
The St Laurent license covers some 125,280 acres and is located 20 km northwest of the giant Lacq field. There are numerous occurrences of hydrocarbons on the St Laurent license including an undeveloped accumulation of heavy oil discovered by the Grenade Sur Adour-1 well in 1975.
The Grenade Sur Adour-1 well encountered a 97 metre column of heavy oil (13° API) in a Cretaceous reef carbonate within a stratigraphic trap. The joint venture obtained an independent determination of the significant oil in place associated with the Grenade heavy oil discovery.
The original well produced 70 barrels of oil equivalent (BOE) per day compared to the 200 to 300 BOE per day now anticipated. During early 2008 the Grenade-3 well located on the St Laurent permit was completed and the reservoir section encountered lacked adequate porosity and permeability and thus the well was suspended. The geological model has been re-evaluated to determine an alternate drilling location back towards the original Grenade -1 discovery well.
In addition to the Grenade discovery, significant exploration potential exists on the block. The operator has mapped a very significant undrilled Triassic known as Audignon. The license has been renewed for a further 5 year term and future activity will focus on a sidetrack of the Grenade-3 well and the farm out of the large Audignon prospect for drilling during 2011.