MOORE holds a 50% working interest in the Seebach exploration license through its wholly owned subsidiary Bluebach Ressources. The French oil company Geopetrol holds the remaining 50% working interest in the license.
The license covers 328 km2 and is located in northern Alsace next to the Soufflenheim license and the Pechelbronn and Scheibenhard concessions, surrounding the Schelmenberg and Muehlweg concessions – all producing from the Tertiary sands. The first validity period of the license expires in September 2017.
By the end of 2016 Bluebach Ressources has entered into a farm-out agreement with Vermilion REP who will acquire a 2D seismic survey during summer 2017 to improve the imaging of prospects in the Triassic and drill a well to the Trias during the next validity period of the license, in return of working interests from Bluebach Ressources.
The license benefits from an extensive publicly available seismic grid (600 km) and 35 exploration wells have been drilled from the mid 1940s to the mid 1980s by PREPA and ELF, primarily into the Tertiary formations .
The Triassic formation is several hundreds of meter thick in Northern Alsace and a neighbouring well has confirmed good reservoir quality with porosity of 15 to 20%.
The seismic campaign that will be acquired during summer 2017 will allow maturing prospects in the Triassic horizon potentially holding very large quantities of oil in the vicinity of the Rittershoffen-1 and Rittershoffen-2 wells where oil and gas shows were noticed.
Oil and gas shows have been noticed in the Rittershoffen-1 and Rittershoffen-2 wells in the potentially oil rich Triassic horizons extending throughout the Seebach license and which have already produced oil in the neighbouring Pechelbronn concession.
Three wells drilled by ELF produced oil in test in the mid 1980s from the Tertiary sands but were plugged and abandoned for economic reasons during the late 1980s. A fourth well drilled by ELF was not tested despite oil shows reported in the same Tertiary sands, for the same economic reasons, and was also plugged and abandoned in the late 1980s.
The French company Oelweg reopened one of the abandoned ELF wells in 1999 and has been producing oil permanently since then (the Muehlweg concession). The license also comprises the abandoned Oberseebach oil field from which PREPA produced 6,900 bbl in 1961-62 and the abandoned Schaffhouse gas field.
The license is located in the immediate vicinity of the Karlsruhe refinery.