The Aschen concession, 100km west of Hanover, covers an area of 15,888 acres and contains two mature, organically rich shale formations and several partially appraised oil and gas fields.
Realm Energy intends to target the two organically rich shale oil and gas resource plays, the Lower Cretaceous ‘Wealden Shale’ and the Lower Jurassic ‘Posidonia Shale’. Both shales appear to be mature for oil/gas in the area and may also exhibit desirable overpressures.
The company will also focus on conventional zones, which are likely under appraised in the Diepholz and Bollermoor oil discoveries and the Aschen sweet gas field.
Craig Steinke, executive chairman of Realm Energy, said: “It is anticipated the Aschen concession is the first of numerous concessions to be awarded to Realm Energy over the next three quarters.
“Although lesser in areal extent, relative to other concessions Realm Energy is involved in, the Aschen concession has many desirable characteristics, including a good base of pipeline infrastructure, an extensive dataset and multiple organically rich and mature shale formations. Once we have acquired the dataset, Realm Energy looks forward to embarking on an exploration plan in this proven petroleum system.”
