CURRENT EXPLORATION IN THE BAHAMAS: ACTIVITY PROMOTED BY NEW REGULATIONS SIMON POTTER CHIEF EXECUTIVE OFFICER
Bahamas Petroleum Company: Introduction Licences to explore: 2007 Anticipated BPC location Commenced December 4 million acres Previously drilled wells 16,000 km2 672 OCS Lease blocks Nassau 168 miles, Andros 80 miles Cuba: 25…
Regional Prospectivity All core and chippings recovered Doubloon Saxon - 1987 Regional data acquired Reinterpretation/ reprocessing Oil Shows Some good source rock Good reservoir/seal intervals Normally pressured No commercial…
Seismic Acquisition: 3D PSDM Cuban Border Nassau 270 kms Trend A Fold B Fold C High quality data. Good correlaon across faults gives higher condence of N fault picks Cretaceous reef/plaorm imaging signicantly improved. Beer…
Seismic Acquisition: 3D PSDM - Structure Maps Cuban Border Cross-secon Andros Fold B Fold C Fold C Trend A Fold B Fold C Trend A Trend A Fold B Late Cretaceous Fold C Fold B Fold C FoldFold C B Depth 700m 950m…
Original and Relocated Pseudo Doubloon Saxon - 1 DS-1 Pseudo DS-1 me First Evaporite First Evaporite 3D data 2D data Noce good e between 2D and 3D seismic data 6
Perseverance 1 Well Plan 3D seismic data to safely plan well Planned well depth: 22,500 feet Water depth at location: 1,500 feet 1 year to plan, 120 days to drill Anticipated well cost: 120 million Drilling rig with upgraded and…
Well Target Comparison: Cuba / Bahamas SE * NW North Cuba Basin Corte Seismico T Transpressional structures; high standing fault blocks K Mesozoic carbonates buried beneath a thick Tertiary cover J Drilled wells only tested…
Oil and Gas Activity Already Exists Oilelds Abaco Grand Atlanc Ocean Reneries Bahama Terminals GT. Isaacs Storages Eleuthera Williams Joides 101 Historic Joides 98 Boreholes Coastal State -1 Andros - 1 New…
Incident Prevention and Risk Mitigation Blow Out Preventer MARPOL 73/78 Spill Conngency Internaonally The Merchant Regulaons Polluon) Act Shipping (Oil Bahamas Oil SOPEP Plans Petroleum…
Timeline: Company Planning 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 2D 3D Acquired Fast track Interpretaon SEISMIC Multi-beam Potential well sites 3D PSDM Interpretaon EIA Spill Study Submitted Consultaon EMP Spill…
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