LICENCE P1918, PEDL 330 & 345

Strategic Business Logic

  • Fully funded entry to Colter well programme. Appraisal risk profile
  • Adjacent to Wytch Farm, producing in excess of 450mmbbls
  • Overlooked and non competitive bid process
  • Near term operational programme and newsflow

Core Value

  • Colter will evaluate a prospect that has been assessed to contain gross unrisked Mean Prospective Resources of 22 million barrels of oil (“MMBO”) recoverable (1.76MMBO net) (Operator estimate)

Planned Operations & Newsflow

  • Well planned for Q4 2018 to target the fault-block immediately to the south of the Wytch Farm field.
  • Rig contract signed with Ensco UK for the provision of a jack-up rig
  • To be drilled in an area updip of the existing Sherwood Sandstone discovery made by Well 98/11- 3 in 1986
  • New preliminary mapping of a separate area to the south of the Colter structure suggests the potential for further Prospective Resources on the P1918  Licence

UK Wessex Basin