Cairn Energy, having recently found oil offshore Senegal with...

Cairn Energy, having recently found oil offshore Senegal with the basin-opening FAN-1 wildcat, has a series of high impact wells on the books for the coming months.  Although the share price is in the doldrums, there was a flurry of excitement around news of FAN-1 last month, with the well finding light oil and opening up a new basin in this corner of north-west Africa. Initial P50 oil-in-place estimates of 950 million barrels are broadly in line with pre-drill estimates.  Cairn operates with a 40 per cent interest.

Follow-up activity is planned in 2015 but already the Edinburgh-headquartered company is drilling ahead with a second exploration well, with the SNE-1 wildcat targeting a dual objective prospect on the shelf edge in 1,100 metres of water with combined gross unrisked prospective resources of  more than 400 million barrels.
The upper objective is made up of stacked Cretaceous clastics, similar in age to the oil-bearing sands found in FAN-1,with a prospective unrisked resources of 182 million barrels, and the deeper objective lies in karstified and fractured Lower Cretaceous shelf carbonates (256 million barrels).   The well is expected to complete before year-end. This could mean some Christmas excitement for followers of the London-listed explorer – although they need not only look to Senegal for drillbit news.

http://oilbarrel.com/news/cairn-energy-follows-up-recent-success-in-senegal-with-sne-1