Holywell Resources is inviting interested parties to farm-in to licence P2112 (blocks 43/29a, 43/30a, 48/4a and 48/5) to assist with the funding of drilling the Badger prospect. Prospective resources of 560 Bcf GIIP have been estimated for the prospect and an exploration well is planned for Q2 2019. Estimated dry hole costs are in the region of GBP 12 million. Badger is surrounded by an abundance of infrastructure with a moderate exploration risk in a proven basin. The initial term expires in December 2018, following a one year extension from the Oil and Gas Authority (OGA). The licensees expect the initial term to be further extended following the commitment of a planned exploration well.Â   The Badger play concept involves intra-Carboniferous reservoir sands sub-cropping the Base Permian unconformity on a regional structural high. The main reservoir objectives are the Ketch Member of the Schooner Formation, Westphalian A (Murdoch and Caister sandstones equivalent) and the Namurian Trent Formation. The four reservoirs are estimated to hold recoverable Pmean prospective resources of 400 Bcf with 4 MMbbl of condensate. The top seal is provided by the Silver Pit Formation and intraformational Carboniferous mudstones provide bottom and lateral seals. The current proposed well is located down dip of the structural culmination where most reservoir intervals will be tested. Badger is defined on a PGS MegaMerge 3D seismic survey acquired in 1999. During 2015 the data was reprocessed through to PSTM and the current licensees have further reprocessed the data to Pre-Stack Depth Migration.Â   Licence P2112 was awarded on 13th December 2013 in the 27th Seaward Licensing Round. The original licensees were Centrica (now Spirit Energy) (40% + operator), Holywell Resources (40%) and Atlantic Petroleum (20%). Centrica left the licence on 19 December 2017 and Holywell acquired 26.667% interest with Atlantic acquiring the remaining 13.333% interest. Amoco (UK) Petroleum drilled exploration well 48/30-1 on the acreage in March 1969 but tested the Triassic and didn't penetrate the Permian.Â   The licence is held by Holywell Resources Limited (66.667% + operator) and Atlantic Petroleum UK Limited (33.333%).
Holywell Resources is inviting interested parties to farm-in to licence P2112 (blocks 43/29a, 43/30a, 48/4a and 48/5) to assist with the funding of drilling the Badger prospect. Prospective resources of 560 Bcf GIIP have been estimated for the prospect and an exploration well is planned for Q2 2019. 