Longboat Energy plc, as Operator of 2A PSC in Sarawak, has recently been working on the deepwater hydrocarbon potential of North Luconia. The North Luconia Province in deepwater Sarawak is a relatively sparsely explored frontier area and Longboat has been working with PETRONAS and partners to de-risk the main hydrocarbon play elements on the Kertang prospect, 2A PSC (“2A”), ahead of exploration drilling. The 2A block lies some 400 km from the Sarawak coastline in water depths of approximately 1,000 meters at the proposed well location being considered for drilling.

The block is in an area particularly underexplored, with Mulu-1 (1995) being the closest well to the main prospective area on block which targeted an Early Miocene clastic play. There are also two nearby gas discoveries; Talang-1 (2006), and Paus-1 (2009) both drilled by Newfield. Paus-1 found wet gas and an oil leg in Early Oligocene but both wells are considered sub commercial. The overall province is considered mainly gas prone. The largest structural prospect on the block is known as Kertang. It is modelled to consist of Cycle I (Late Oligocene, lower coastal plain) and Cycle II (Early Miocene, upper shore face) clastics.

The top of the Kertang structure is defined by the Middle Miocene Unconformity (“MMU”), a regional unconformity that is clearly visible throughout the North Luconia province. A seismic section across the Kertang structure clearly shows the unconformity surface overlying a sedimentary succession. The main structure maps show a horst block with large offset faults west and east of the structure. The MMU shows a large structural closure with 1,400 meters to structural spill and which covers an area of 220 km² to the lowest closing contour. There is a large gas cloud present over the structure and also evidence of carbonate buildups at or just prior to the MMU.

There is also significant sediment deposited above the MMU overlying the Kertang structure, which form the overall seal to the play. This post MMU is interpreted to be deep marine hemipelagic sediment but interspersed by occasional sand rich turbidite pulses. There are bright amplitudes which overly the Kertang structure in Cycle V/VII sediments. These form a secondary objective for the planned Kertang exploration well. This play has been upgraded and partially de-risked by the Machinchang-1 (2023) discovery by PETRONAS Carigali in the acreage to the south of 2A.

Several of the offset wells have also encountered coals in Cycle I (Late Oligocene). The coals are believed to be gas prone and the Kertang structure will be charged provided the thick coal Cycle I source rock is present within the vicinity of the Kertang structure. Reservoir is expected to be present and consists of lower coastal plain (Cycle I), and upper shoreface thin bedded sands (Cycle II) and turbiditic sands in Cycle V/VII.

We believe that all the elements of the petroleum system are proven within the North Luconia Province within the vicinity of the Kertang structure and in both the pre and post MMU sections. We present Kertang as being one of the largest currently undrilled structural prospects in Malaysia.

Longboat Energy plc is a London AIM-market-listed, full-cycle upstream oil and gas exploration and production company focussed on the Norwegian shelf and the Malaysian basins. Longboat Energy plc, through its wholly owned subsidiary, Longboat Energy (2A) Limited, is Operator of 2A PSC in Malaysia.