LGX Oil + Gas Inc ROAOF

RE: ok i'll piece it together for you

[L.A.]

This is the part of the puzzle that is missing. It sounds like this discovery has the potential to be HUGE!!!! Stratigraphic traps account for only 5% of existing UKCS fields and discoveries, and they have been infrequently targeted when compared to structural traps up to now. A significant number of stratigraphically trapped fields were discovered serendipitously during drilling of other targets. The spectacular discovery of the Buzzard Field in 2001 has marked the beginning of a new era of active exploration for stratigraphic traps. Of the forecast 4 to 25 billion barrels of oil equivalent UKCS undiscovered reserves, it is estimated that potentially 50-75% is located within stratigraphic traps. Jim Munns ([e-mail]) of LCU-LED, DTI and Sue Stoker ([e-mail]) of the British Geological Survey (BGS) look at where these stratigraphic traps might be found. Introduction The majority of the 465 oil and gas fields and significant discoveries to date on the United Kingdom Continental Shelf (UKCS) (Figure1) are found in structural traps. Of the discovered hydrocarbons just 12% is found in combination structural/stratigraphic traps and only 5% in stratigraphic traps (Figure 2). In existing fields and discoveries, the stratigraphic and combination traps occur mainly within Upper Jurassic syn- and post-Jurassic post-rift play fairways (Figures 3 and 4). The sheet-like geometry and sand-rich nature of many of the pre-rift reservoirs (Middle Jurassic and older) make stratigraphic entrapment uncommon in these strata. Combination traps in pre-rift plays generally involve major erosional truncation. In contrast, stratigraphic entrapment in deep-water coarse clastics is an important play in the syn- and post-rift play fairways. Figure 1: Map of UKCS showing licensed acreage and discoveries (Click image for larger view) Historically few stratigraphic traps have been the primary targets of exploration drilling on the UKCS due to the higher level of risk, and greater difficulty in identifying them on seismic data. Interestingly, a significant number of fields and discoveries in stratigraphic and combination traps were found through sheer good fortune during exploration or appraisal drilling to other, generally deeper, structural targets. However, we cannot rely on serendipity for the future, but must find means of identifying subtle stratigraphic traps. Significantly, sophisticated seismic data analysis, in particular amplitude-versus-offset (AVO) techniques, has not proved to be entirely reliable on the UKCS, particularly within the Paleogene deep-water sand play on the UK Atlantic Margin (Loizou, 2003). The Buzzard Field (Doré, 2002) discovered in 2001 is a large (1.1 billion barrels of oil in place) Upper Jurassic stratigraphic pinchout/dip trap on the margin of the Moray Firth Basin. It was found by applying traditional methods of seismic interpretation, and integration of well and other data, leading to the development of a strong conceptual model.