Cabot Energy announced on 28 September 2018 that is was in discussion with a potential partner for its C.R146.NP exploration permit offshore southeastern Sicily to share the costs of the drilling of the Vesta 1 wildcat on the Vesta prospect. It is not clear if discussions are also involving the adjoining C.R149.NP permit. The Vesta prospect contains two large prospective horizons analogous to the neighboring Vega oil field. According to Cabot Energy, the Vesta prospect holds mean unrisked prospective resource amounting 430 MMbbl of oil.  The C.R146.NP permit, straddling the limit between the Malta Platform and the Ragusa Basin, was granted to Northern Petroleum (now Cabot Energy -operator, 50%), with ATI Oil Plc as a 50% partner, in September 2004 for a six-year period. Northern Petroleum completed the acquisition of ATI Oil Plc in 2009 and is now a 100% holder in the C.R146.NP permit. The company was granted the C.R149.NP permit on 15 July 2014. Based on the interpretation of 602 km of new 2D seismic, the company has identified three well-defined structures in the C.R146.NP permit, two of which have been selected by Cabot Energy for drilling. The Vesta and Vespa prospects hold potential resources in excess of 2.8 Bboip. Sited in 130 m - 150 m of water, wildcat Vesta 1 has a proposed final depth of 4,200 m. A second well is contingent on the success of the first well. Cost per well is estimated at USD 30 MM. The C.R146 NP permit is suspended since 24 May 2010. The company was granted the approval of the environmental impact assessment (EIA) for the drilling of the Vesta 1 well on 13 April 2018.  Northern Petroleum (UK) Ltd, a wholly-owned subsidiary of Cabot Energy Plc, holds a 100% interest in the C.R146.NP and C.R149.NP exploration permits.    For further information please contact the following:    Keith Bush:Â  k.bush@northpet.com    Carlo Caldarelli: c.caIdareIIi@northpet.com     Cabot Energy Plc    Chester House,    Kennington Park,    1-3 Brixton Road,    London SW9 6DE    Tel: +44 7469 2900    Fax: +44 7469 2901
Cabot Energy announced on 28 September 2018 that is was in discussion with a potential partner for its C.R146.NP exploration permit offshore southeastern Sicily to share the costs of the drilling of the Vesta 1 wildcat on the Vesta prospect. It is not clear if discussions are also involving the adjoining C.R149.NP permit. The Vesta prospect contains two large prospective horizons analogous to the neighboring Vega oil field. 