Lochard spies Thunderball partner

Seeking: Thunderball farm-in deal

Steve Marshall

, Steve Marshall

 04 October 2011 08:40 GMT

AIM-listed Lochard Energy Group aims to lure farm-in partners to drill its Thunderball prospect off the UK after seismic remapping has shown higher reserves prospectivity.

Lochard’s wholly-owned subsidiary Zeus Petroleum, which holds a 90% interest in Thunderball, has remapped the prospect in UK North Sea Block 14/26b based on fresh seismic recently acquired by TGS.

The original discovery well, drilled by Arco in the 1990s, flow tested at 34 million cubic feet per day of gas but was deemed non-commercial.

However, interpretation of the latest seismic data has indicated likely recoverable prospective resources of 620 billion cubic feet of gas – compared with a previous estimate of 318 Bcf based on older seismic – and 74 million barrels…

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