Les Moussieres, France

Operations in Jura, France

Les Moussieres Permit

The Les Moussières permit contains the La Chandelière oil field. The permit is located in the Jura region of eastern France and covers an area of 3,269 sq km. The permit was awarded in March 2008 for an initial 5-year term. Celtique operates the licence with a 100% interest.

The La Chandelière Oil Field was discovered in 1989 by Exxon and has been penetrated by 3 wells, two of which recovered 40 degree API oil on test.

The oil reservoir is the Triassic Bunter Sandstone, a fluvial continental deposit. Our work has confirmed that the reservoir was deposited by laterally shifting braided streams, forming a series of stacked fluvial sandstones that can exhibit excellent reservoir characteristics, with variable porosity and permeability.

Celtique has mapped the structure using a newly re-processed 2D seismic data. The resultant interpretation shows the La Chandelière field to be a fault-independent four-way dip structural closure with faulting on the northwest edge and an aerial extent at lowest closing contour.

By integrating of all the data, including the new structural interpretation and a new core study, a new geological model for the field has been developed and a reservoir simulation model of the field indicates an original oil in place estimate of 24.7 mmbbls (based on an oil down to depth) and an ultimate recoverable reserve estimate of 7 mmbbls. Celtique believes that an upside potential of an additional 70 mmbbls oil in place exists within the La Chandeliere Field.

Subject to planning approval, Celtique plans to drill a horizontal appraisal well to establish high well productivity and the degree of aquifer reservoir pressure support under a long term production test.

Detailed work has shown that the Les Moussières permit contains a large number of prospects and leads that extend northwards away from La Chandelière through to the Neuchâtel Canton in Switzerland.

The Jura has unconventional oil and gas potential based on Permo-Carboniferous shales and coals, as wells as Jurassic shales. The objectives are at shallow depths having been uplifted.

Region	Licence	Licence Holder	Operator	Award Date	Size (km²)
Jura	Les Moussieres	Celtique Energie Petroleum Ltd 100%	CEPL	Mar 08	3269

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

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