20/29 Location and Prospect Map

20/29 Location and Prospect Map

This block is located next to the Auk Field which produces oil from the Zechstein Carbonates and Rotliegendes Sandstones. The block has been awarded to GTO Ltd (50%) and Two Seas Ltd (50%) in the recent UK 26th Round announcement. These blocks have been awarded on a promote basis.

Several different petrophysical evaluations of the Zechstein section in well 29/20-1 drilled in 1973 indicates the presence of a 50’oil column – and as such may be considered a ‘proven’ resource. The structure appears to be a four way dip closed structure with up dip potential from the discovery well. However the feature is only part covered with 3D seismic and some vintage 2D lines. The current evaluation maps out a possible 55mmboip in the Zechstein reservoir, and a further 25mmboip in the underlying Rotliegendes Sandstone.

GTO and Two Seas are seeking ways to acquire new 3D seismic across the whole structure to confirm the potential and well location. In addition the seismic will assess the Jurassic Sandstone play that has been identified in the block by past operators, but yet to have been successfully tested.

The proximity to infrastructure means that relatively modest reserves can be commercial attractive.

The aim is to obtain an operating partner to commit to a well in the next 18months.