From this analysis, Alamo expects that the structural trend and oil migration correlates with its model for the blocks.
The company said that as it has already completed a permit study, it can now begin discussions with potential seismic service companies to shoot a 2D seismic shoot in 2010.
Alamo’s four UK onshore license blocks (TQ26, TQ36, TQ46, TQ56) lie directly north of the producing Palmer’s Wood Oilfield operated by Star Energy, a subsidiary of Petronas. According to an independent geological report, the hydrocarbon resource potential for all four blocks is approximately 236 million barrels, the company claims.
Philip Mann, chief financial officer of Alamo Energy, said: “The data from the reprocessed seismic lines and wells are extremely exciting. The report indicates that the Knockholt discovery which is located directly South of our blocks encountered oil in approximately 23ft of Corallian Sandstone and appears to have been drilled into a low area, with the strata rising to the south and to the north into our block.”
