UK SOUTHERN NORTH SEA: BADGER PROSPECT
(Licence P2112 Blocks 43/29a, 43/30b,48/4b,48/5a & 48/4a)
Strategic Business Logic
- Large structural prospect with multi-BCF potential in proven Carboniferous gas “fairway”
- Prospect remains undrilled because it lies at the junction of 4 license blocks (43/29a, 43/30b, 48/4b, 48/5a) which historically were always under different ownership.
- Reprocessed PGS 3D to Pre-Stack Depth Migration (PSDM) to reduce risk and uncertainty for the prospect
- PSDM is essential because the prospect lies beneath a Zechstein salt dome
- Prospect is close to existing infrastructure.
- Significant prospective gas in place makes Badger one of the largest undeveloped prospects in UK North Sea
- Andalas expertise and local knowledge will be applied to support technical and farm-out process
Planned Operations & Newsflow
- Farm-out the drill or drop commitment
- Extend licence
Table 1 Gross prospective unrisked resources (Note 1 and 2):
Table 2 Net (to Holywell) prospective unrisked resources*
*Andalas has a 25% shareholding in Eagle, which is the 100% owner of Holywell, which is the owner of 66 2/3% of the licence.