| Torrente Alvo |
 Licence Details
Area: 84.37 km2
Status: Permit
Effective date: 21.10.2010
Work Commitment: 1 well
Term: 5 years
Interests:
Apennine O&G (Operator) 50.00%
Apennine Energy 50.00%
Permit Area History
The Permit is located in Potenza in southern Italy. Geologically it falls within the Lagonegro-Molise Nappes of the Southern Apennines.
The permit area was initially explored by Italmineraria (now ENI) in the 1960s and a number of wells were drilled between 1965 and 1998 in the ex- S Gervasio and Monte Strombone permits. The well San Chirico-3 (1965) discovered gas in Pliocene reworked sands at 1406-1420m and tested 2 MMscfd. Strombone-2dir (1978)found oil in Miocene carbonates at 1508-1562m and tested 750 bopd with variable water-cut. The oil accumulation is also partially overlain by a non-commercial gas pool, located in Pliocene sands truncated by the allochthonous ramp. The permit was turned to a concession but neither of these two discoveries was developed. The concession was relinquished in 1998.
Recent Permit Activity
The permit was acquired by Celtique Energie in 2010 and in November 2011 Apennine aquired Celtique's 50% interest. To date only the Environmental Impact Assessment and G&G data studies have been completed on this permit.
Apennine intend to develop the Strombone oil discovery in 2011. Fugro-Robertson has estimated the gross P50 contingent resources of the Strombone discovery to be 6.4 MMbo*.
Note: Resource estimates indicated by an asterisk (*) indicate that the figures are supported by a corresponding Competent Person’s Report.
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