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LARNE PROJECT, Northern Ireland

The Larne exploration license is 350 square kilometers in size and is located on the coast of Northern Ireland near Belfast. Exploration to date has included over 100 kilometers of seismic and two test wells. The results of this exploration has confirmed the presence of over 640 meters of highly prospective Sherwood sandstone located within the same geological section and environment that hosts reserves of up to 7 trillion cubic feet natural gas in fields within adjacent similar basins (Map 2). Bard Ventures Inc has earned a 25% working interest in this license.
  Location Map
Map 1The Larne basin, which contains the Larne license is adjacent to similar basins underlying the East Irish Sea and offshore Ireland. All of these basins including Larne exhibit the same characteristics that are critical to the formation of oil and gas fields. To the south in the East Irish Sea, fields such as Morecambe Bay (initial reserves of seven trillion cubic feet and daily production of one to two billion cubic feet natural gas), the Liverpool Bay fields (200 to 400 million barrels and daily production of 70,000 barrels) and to the north, offshore Ireland the newly discovered Corrib field (indicated reserves of one trillion cubic feet) are examples of the giant reserves and high productivity from Sherwood sandstone reservoirs in these adjacent basins.

The key well in the Larne basin is the Larne #2, drilled by the Irish government in the early 1980's. This well confirms the presence of over 600 meters of high quality Sherwood sandstone in the same geological section as those that host the adjacent fields. The most important recent advancement has been the ability to identify potential structural traps like those related to the adjacent fields using recently developed seismic reprocessing techniques (an example of one of the targets is shown in Map 5 and Map 6). These traps, which will be tested by the proposed "slim hole" drilling program, can be easily correlated to those that host the large oil and gas fields in the adjacent basins (Map 3 and Map 4). It is this strong correlation to existing world class fields that increases the potential of a major discovery within the Larne license.

Bard earned a 25% direct interest in the Larne license and a large Area of Mutual Interest from Pure Gold by issuing 100,000 shares to Pure Gold. The company is very excited about the acquisition of this project as it is a low cost acquisition of a significant interest in a very large prospective area with the potential for a giant gas discovery. The project is operated by Antrim International Inc. the vendor of the project. Antrim will retain the residual 50% working interest.