Sun Cal Receives Schlumberger Analysis of SE Jonah Prospect
Sun Cal Energy Inc. reported that the completion of the SE Jonah Prospect reserve analysis and drilling program by Schlumberger Data and Consulting Services, an industry-leading oilfield service provider.
Schlumberger was contracted to evaluate Sun Cal's SE Jonah Prospect which covers 2,478 acres in Sublette County, Wyoming. The evaluation includes: a review of existing seismic data over the prospect for recommendations on possible purchases and prospect feasibility; a data audit of available public data; an evaluation of nearby industry activity; a review of production from surrounding fields to determine potential production rates; original gas-in-place (OGIP) and estimated ultimate recoveries (EUR); and an assessment of possible drilling location based on geological, geophysical and engineering data. The evaluation also includes recommendations for additional data purchase and acquisition, including seismic.
According to the completed evaluation of the SE Jonah Prospect by Schlumberger, which was based on available geological, petrophysical, and reservoir engineering data, Schlumberger quotes a base EUR estimate of 292.4 Billion standard cubic feet (Bscf) and a high side EUR potential of 1,280.8 Bscf of natural gas on the prospect.
The report noted that from well data an apparent SW-NE trending anticlinal nose trends through the middle of the Teakettle unit at the top of the Fort Union Coal Zone and Lance Formations, and that this feature is noted to be most prominent in the Sublette Flat #1 well and Sagebrush Federal #3-8 well; both located within the northeastern part of the unit and on Sun Cal's acreage. Seismic data is recommended to better delineate the anticlinal nose. The report also states that the primary reservoir interval, the Lance Formation, exceeds 1,000 feet in Sun Cal's SE Jonah Prospect and that a similar fluvial environment of channel sandstones with interbedded floodplain shales, which occurs at Jonah Field, is expected in the prospect.
Based on the results of the evaluation, Schlumberger asserted a "good possibility of productive hydrocarbons being encountered in the prospect and the surrounding area," and has recommended the acquisition of additional seismic data over the prospect to allow for greater subsurface control and better positioning of drilling locations.
Lewis Dillman, CEO of Sun Cal Energy, commented on the results of the evaluation, stating: "We are extremely pleased with the results of the Schlumberger evaluation. The potential reserve estimations have now increased to a potential 1.28TCF, which is a significant increase from the previously prepared independent report. We view this even more positively than we had initially hoped, and we are very excited to continue our progress towards the development of the SE Jonah Prospect."
The OGIP and EUR on a "per well basis" were also calculated for the prospect and included low, base and high cases (P10, P50, P90) by varying the net sand thickness and recovery factor. As stated by Schlumberger, the values used for the recovery factor were conservative as gas reservoirs with no or low liquid production can commonly have recovery factors in excess of 80%.
"These results validate the potential the SE Jonah Prospect represents to our shareholders," stated Lewis Dillman. "We expect to continue to undertake tangible steps to develop this prospect, and in particular explore opportunities to enter into strategic partnerships with key major producers in the area. Furthermore, these results add momentum to our desire to develop the West Jonah prospect nearby and seek additional acreage in the area that would provide our shareholders greater exposure to one of North America's fastest growing natural gas fields."
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