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ENEGI Oil hires Fugro to assess Ireland onshore shale project

ENEGI Oil has told investors that it has hired Fugro Robertson to independently assess its potential shale resources in the Clare basin, onshore Ireland.
ENEGI Oil hires Fugro to assess Ireland onshore shale project

 

ENEGI Oil (LON:ENEG) has told investors that it has hired Fugro Robertson to independently assess its potential shale resources in the Clare basin, onshore Ireland.

This comes as ENEGI received ‘extremely encouraging’ findings from its initial assessment of the project.

It said that total carbon analysis confirmed that the shale is a ‘rich source rock’ and it has an abundance of preserved organic matter. Separate analysis has also indicated that the shale is less mature than previously documented, and ENEGI says this enhances the potential for gas at depth.

"The latest results strengthen our belief in the potential of the Clare Basin,” chief executive Alan Minty said.

“We look forward to the results from Fugro, which will not only shape our plans for the area, but also give us an indication of the magnitude of resources that we could potentially book in future." 

Fugro will carry out further testing on ENEGI’s behalf to get a fuller understanding of the shale prospectivity in the region. And it will prepare an estimate of the project’s in-place resources.

It is expected that the Fugro report will be submitted before the end of November.

 

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