STRATEGY
Through its 75% owned subsidiary ENS Energy Limited (“ENS”) build a portfolio from initial UK Central North Sea asset base.
- Appraisal and development of undeveloped fields in UK North Sea, Middle East, North Africa and Europe
- Targeted farm-ins and license round participation
- Prospects where the Company can add value with specialist skill-sets
- Heavy oil, fractured reservoirs, maintain high working interest and operatorship
- Prudent joint-venturing to manage risk and capital exposure
PROPERTY
- Quadrant 16, Central North Sea, blocks 16/1a, 16/1b, 16/2c, 16/6c
- Awarded licences P1500 and P1691, with 100% working interest, in the 24th and 25th bid rounds
- Close proximity to the Brae-Miller Fields complex
- Close proximity to existing infrastructure
- Work program licence P1500
- 3D seismic reprocessing completed
- Geological and geophysical evaluation completed
- Decision to drill deadline November 30, 2009, or relinquish licence
- Currently seeking farmout partners to participate in an appraisal well up dip from 16/6b-5 oil column
- Work program licence P1691
- 3D seismic reprocessing completed
- Geological and geophysical evaluation completed
- Decision to drill deadline March 31, 2011, or relinquish licence
