Tethys Oil Acquires Stake in Paris Basin

Tethys Oil has been awarded the Attila exploration license by the French Government. The Attila License covers 1,986 km2 of the Department of Meuse in Northeastern France, about 250 km east of Paris. Tethys has a 40% interest in the license with private French oil company Galli Coz S.A. having 60% and operatorship.

The Attila license area is located in the Eastern part of the oil and gas producing Paris basin adjacent to the Gaz de France operated Trois – Fontaines natural gas field. The license is valid for a period of five years and has a financial work commitment of €1,162,000, of which Tethys' share amounts to €520,000.

Natural gas is the exploration target in this part of the basin. This potential is demonstrated by the Trois-Fontaines gas field and the undeveloped Montplonne gas discovery, which is located within the license. The Trois-Fontaines gas field – discovered in 1982 by Gaz de France – is located immediately to the west of the license and has an estimated total recovery of 105 BCF (3 BCM).

Five potential prospects (leads) have been identified within the license area. Estimated drilling depths are from 1,400 to 1,500 meters. Technical work has already started and includes the following:

  • Satellite and radar data was acquired and analyzed to identify fault trends
  • 180 km of existing seismic data has been reprocessed (130 km acquired by Esso between 1981-87, and 50 km by Gaz de France in 1991)
  • Geochemical surface samples were collected by Galli Coz and have been analyzed confirming the prospectivity of the area

Next the seismic data will be interpreted and mapped on a computer workstation.

The seismic reprocessing and resulting new interpretation are important steps (points) in the work program. These allow us to image and map subsurface geology better than previously possible because of advances in computer processing power and techniques. The resulting subsurface maps will be able to delineate the potential gas prospects aiming to upgrade as many leads as possible to drillable prospects and then identify a suitable location to drill an exploration well.