Offshore Peru Block Z34 Early Indications from the Results of 3D Seismic Survey
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Peru Offshore Block Z34Description:• Large offshore block (370,000 Hectares)• Located in the offshore Talara Basin• Next to the Talara oil fields (>1.5 billion barrels produced)• The block is in water depths ranging from 100m to >2000m• Gold Oil 100%Current Status:• Acquired 2,013 km of 2D seismic in 2009; processed and interpreted• Acquired over 800 sq km marine 3D in July/August 2011• Scope increased significantly (from 500 to 800 sq km) but within original budgetThe Opportunity:• The USGS estimates that 1.68 billion barrels remains to be found in Peru, predominantly offshore• Numerous (>10) leads identified on 2D seismic• Significant resources with company making potentialOur Plan:Processing of 3D seismic commencedInterpretation to be finalised Q4 Seismic example showing tilted fault blockSeek partner to fund two wells in 2012/13 Seismic line through Pisco and Chilcano fault block leads 4
Block Z34 ~ Positive read across from BlockZ38• Karoon Gas farmed in funding seismic and two wells• D&M valued Karoon Gas’ 75% of Block Z38 at US $657 million.• Karoon announced plan to drill 2012• Latest report shows Block Z38 unrisked P50 resources at 2.2 billion barrels• ‘G’ Prospect target in Block Z38 seen extending into Block Z34.• Mean Prospective resource of 419 MMb Gold Oil has 100% equity and ascribes a significant value to neighbouring Block Z34 6
Block Z34 ~ Prospects and Leads Summary Prospect ‘G’ Cuy Substantial Identified Hydrocarbon Potential • Significant leads/prospects identified • 2D seismic interpretation indicates large structures • Completed 3D seismic in July/Aug 2011 to confirm and further define the prospects to ‘drill ready’ status Block Z34 Gross Unrisked Resource Potential Francesca P (10) P (50) P (90) Prospect /Lead mmboe mmboe mmboe Chilcano 1,985 823 191 Prospect ‘G’ 311 150 31 Pisco Pisco 752 134 8 Francesca 832 232 109 Cuy 214 67 35 Chilcano ____________ _______ ______ _____ Total Unrisked 4,094 1,406 374 Note: Figures based on internal Gold Oil estimates 7
Erika 3D Seismic Acquisition• Environmental authorisation awarded 9th of May 2011 by the Ministry of Mines and Energy• Contract signed with BGP Geoexplorer 4th of July 2011• Vessel BGP Pioneer mobilised from Africa• Adquisition initiated 6th July 2011 from Paita• ~800+ km sq km 3D in two areas over Erika North and South• Some 2D seismic lines• Processing is in progress with CGGVeritas
Seismic Database • Gold Oil acquired 2013 Km seismic 2D in 2009, only onboard processing with poor data quality resulting. Erika North • Gold Oil contracted Schlumberger Australia to 3D area reprocess the seismic information by Gold to PSTM • The SEG Y archives were received in September 2010 and were reinterpreted. • Gold Oil acquired 800 sq km of 3D seismic in 2011, which is currently being processed and a preliminary cube of Erika South is available today. • Additional 2D and 3D is available that covers the adjacent blocks including the inshoreErika South blocks, and some of the well data. 3D area
Prospects mapped on 2D seismic data Reservoirs of Eocene sedimentary sequences with traps in rollover anticlines with 4-way dip closure. Erika North zone 3D Reservoirs of Eocene sedimentary sequences with traps in fault blocks and fault closure. Reservoirs of Eocene sedimentary sequences with traps in rollover anticlines with fault closure. Stratigraphic traps of deep marine fans (LST) of the Oligocene or Miocene. Possible objectives in poorly defined structures from deeper levels. Erika South zone 3D Shallow turbidites from Oligocene depocentres.
Talara Basin Petroleum System Seals – marine shales segregate and sealing sandstone beds and lateral seals across faults Reservoirs – Eocene coastal and shallow water sandstones and deep water turbidites of Talara and Salinas groups. Source rock – Analysis of oils in Talara Basin indicates most likely candidates in Tertiary marine shales and in the case of Z34 the Late Cretaceous Redondo Shales are the most important. Traps – mainly structural and combination structural/stratigraphic, rotated fault blocks and turbidites.
Redondo Formation Source RockSediment thickness of overburden of Oil Migration PathwaysRedondo Formation Northern oil generative kitchen Drainage cells For Northern prospects Blue= Thicker Red= Thinner Drainage cells Southern oil generative For kitchen Southern prospects
Reservoirs1) Redondo Formation marine sandstones intraformationally sealed by marine shales2) Mal Paso, Petacas and Ancha formation sandstones sealed by Paleocene shales3) Mogollon sandstones sealed by shales in tilted fault blocks4) Deltaic sandstones of the Chacra-Salinas Group intraformationally and top sealed by Talara Shales5) Talara Sandstone distal marine and turbidite sandstones6) Basal Miocene slope fans7) Basal Miocene basin floor fans
Pariñas Fm reservoir/ Talara Fm seal Seismic data shows juxtaposition of reservoir / seal facies in deltaic sequences beneath prograding deeper marine shalesLine NS-04 Progradational Facies Deltaic Facies
Fault blocks on 2D in Erika South Area Erika South
Anticline on 2D in the Erika North area Erika North
Type 1 Prospect – Erika South 3D Eocene deltaic sandstones in Rollover anticline West East Water depth 900m Time slice Cross Line
Type 2 Prospect – Erika South 3D Middle and upper Eocene deltaic sandstones in fault blocks West East Water depth 800m Arbitrary line Time slice
Type 3 Prospect – Erika South 3D Stratigraphic traps of the Oligocene and Miocene? West East Water depth 1300m Cross Line
Type 4 Prospect – Erika North 3D Eocene deltaic sandstones in Rollover anticline Post stack migration
Contacts Gold Oil Plc Richard Mew Chief Executive Officer firstname.lastname@example.org Ian Reid Exploration Director email@example.com 21