Finder (ASX:FDR) reveal the Whitsun Prospect

Finder (ASX:FDR) reveal the Whitsun Prospect

December 7, 2023 Off By Tom Duggan

Finder Energy‘s high-end reprocessing of Big Buzz 3D data in one of its North Sea licences has revealed the newly named Whitsun Prospect, a large analogue to the largest UK Continental shelf oil discovery in the last quarter century.

The area is one of the world’s most prolific hydrocarbon provinces, and the Buzzard Field one of its best, estimated to hold over a billion barrels of oil and demonstrating the potential of stratigraphic traps to open new resource potential as one of the most significant discoveries of the modern era.

Recent advances have made huge leaps in finding those stratigraphic traps and discovering larger field sizes, and Finder could have its own, with Whitsun now found to hold gross mean prospective resources of 150 MMbbl.

Finder Managing Director Damon Neaves said the Big Buzz 3D reprocessing exceeded expectations.

“Finder has utilised the latest reprocessing and interpretation technologies to find subtle, stratigraphic traps analogous to the nearby giant Buzzard Field. The leading prospect emerging from this work is the Whitsun Prospect,” Mr Neaves said.

“Whitsun is large, with estimated mean prospective resource potential of 150 MMbbl gross. Undrilled prospects of this size are rare in mature basins and will likely attract significant interest from potential farm in partners.”

“I congratulate the team for their excellent technical work and the vision that inspires them to generate compelling drilling opportunities like Whitsun.”

Finder retained a 60 per cent interest in the license with the aim for a secondary farmout and securing funding for drilling and has now initiated the courtship process to find its partner.

The UK has demonstrated its commitment to supporting its oil and gas industry and recent announcements are expected to reinforce sector investment, and Finder will continue to evaluate additional prospectivity on neighbouring licenses using the Big Buzz 3D reprocessed data.

FDR Whithead

Visualisation of Whitsun’s analogue to Buzzard

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