Talon Petroleum has agreed to farm into P2396, gaining a 10% interest from 100% operator Corallian Energy, as announced on 26 October 2018. P2396 contains the Curlew-A NFW 29/07-1 (1977, Shell, 3,734m) Tertiary Odin and Cromarty formations oil discovery which has 45 MMboe gross contingent resources. Partners have also identified a secondary Palaeocene Forties Sandstone target. Appraisal drilling is scheduled for Q3 2019. Talon will pay 15% of the appraisal well up to a cap of GBPS 12 million (US$ 15.4 million) and thereafter 10%. The current estimated well cost is GBPS 9.7 million (US$ 12.5 million). P2396 covers 121 sq km of block 29/7b awarded in 30th Seaward Licensing Round on 1 October 2018. It is located in the Central North Sea adjacent to the N of the producing Curlew oil field operated by Shell, partnered with ExxonMobil. Shell and ExxonMobil relinquished the now P2396 area in end 2016 under licence P2058, avoiding a firm drill decision for the Tertiary Cromarty Curlew A prospect. The 29/7b area also contains the dry NFW 29/07- 3 (1987, Shell 3,601m) 3km N of 29/07-1. P2396 is currently 100% operated by Corallian Energy Ltd.
United Kingdom, P2396