Summit Petroleum is offering the opportunity for interested partners to farm-in to licence P2382 (block 22/14c) containing the drill ready K2 prospect. In July 2020 the opportunity was still available. A site survey was carried out over the prospect in June 2019 and a well will be drilled when a partner in the licence is secured. The licence had a drill or drop commitment before October 2022 but in early-July 2020 it was believed that Summit had secured an 18 month extension to the licence term and the drilling commitment (before April 2024). In June 2020 Summit acquired 25% interest in the licence from partner Ping Petroleum UK, the deal saw Summit become the sole holder of the licence. The K2 prospect lies immediately southwest of the Everest gas field and northeast of Huntington and is a four-way dip closure. The prospect is thought to be separated from Everest by a saddle with both K2 and Everest having similar AVO responses which aren't seen on the saddle. The primary reservoir is the Forties Sandstone reservoir with the K2 prospect thought to hold 29 MMboe (base case resources). There is a deeper Mey Sandstone anomaly which could contain 15 MMboe recoverable resources. Other prospects exist in the block â one is Rustler and the other Rattler which exhibit DHI's and could add further resources of 58 MMboe at a later date.    Planned well costs are estimated at GBP 12.8 million (dry hole) with any development having lots of options including tie-backs to Everest, Huntington, Arran, Nelson and Forties. Summit is offering a minimum of 25% interest and maximum of 40% interest and is open to negotiation.     Interest in the licence is held by Summit Exploration and Production Limited (100% + operator).
United Kingdom (Central Graben Province) P2382 op. by SUMITOMO (75%), PING PT (25%). Summit Petroleum is offering the opportunity for interested partners to farm-in to licence P2382 (block 22/14c) containing the drill ready K2 prospect. 