Claracq, France

Operations in Aquitaine, France

Claracq Permit

The Claracq permit is located in the prolific South Aquitaine basin where over 110mmbbls of oil and 11.3 tcf of gas have been produced. The giant fields of Lacq, Meillon, Vic Bilh and Pecorade surround the permit and the local pipeline export infrastructure is excellent. The permit was awarded to Celtique in November 2006 for an initial 3-year term and an application to enter the first permit extension period has been submitted for an additional 5 years commencing in November 2009 and this would cover an area of 463 sq kms.

Celtique has a 100% interest in the permit.

Celtique has identified an underexplored Apto-Albian reef play in the acreage. The reservoir objectives are Apto-Albian reefal carbonates which in a neighbouring well had excellent reservoir characteristics. Overlying Upper Albian shales seal the interval. The source rock is the prolific underlying Upper Jurassic Lons formation which charged all the surrounding fields. The large Loncon pinnacle reef prospect has estimated reserves of 30mmbbls or 121bcf with upside potential of 62mmbbls and 247bcf. Other similar large reefal prospects lie on trend.

In the east of the permit is the South Garlin Prospect, a block faulted high on the southern flank of the Garlin salt ridge. The prospect is a mirror image of the Vic Bilh Field that lies on the north flank and is expected to have a similar reservoir target and oil type. Celtique shot seismic in mid 2009 in order to better define the size of the prospect. Subject to planning approval, Celtique plans to drill a well to test one of the reef prospects.

Licence Summary

Region	Licence	Licence Holder	Operator	Award Date	Size (km²)
Aquitaine Basin	Claracq	Celtique Energie Ltd 100%	CEL	Nov 06	463

CEL = Celtique Energie Ltd, CEPL = Celtique Energie Petroleum Ltd

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