Cadelbosco di Sopra exploration permit, together with the adjacent Grattasasso permit, was awarded to the Company in February 2011.
In 2009 a preliminary exploration assessment of the former ENI Correggio gas field (which produced 7.1 bscm / 253 bcf from 41 productive wells) confirmed the presence of remaining gas potential in this area.
Two Quaternary prospects, Canolo-1 and Zini-1 (respectively 2C:1.1 and 2.7 bcf) and one Pliocene prospect named Canolo-2 (2C: 2.6 bcf) have been identified.
Drilling approval applications were lodged in 2012 and the drilling programs with the related Environmental Impact Assessment are under review by the Ministry and the Region.
In June 2012 the Company executed a farm-in agreement with Petrorep Italiana Spa: the agreement permits Petrorep to earn a 15% interest in the up-coming work programme.
The licence also includes the Bagnolo in Piano deep (Cretaceous carbonates) oil discovery (drilled by ENI in the 1980s). Structural seismic interpretation together with former well information and core data has been reviewed to determine the oil potential of the feature.
This licence, north of Cadelbosco di Sopra, was awarded to the Company in January 2011. It includes the deep Oligocene/Eocene Ravizza oil discovery (drilled by ENI in the 1980s).
Structural seismic interpretation, together with prior well information and core data, was collected
to perform a static reservoir study and to determine the oil potential of the feature.
The drilling of the quaternary Canolo-1 prospect referred to above, which borders the Cadelbosco permit, will provide indications on the gas extension of the related seismic anomaly in the Grattasasso permit.