document: Simwell Resources released a statement on 5 August 2020 disclosing that it has farmed-out a 70% stake and operatorship in its P2332 licence (blocks 41/3, 41/4 and 41/9) to Shell. The deal has received Oil and Gas Authority (OGA) approval. The licence covers 715 sq km and is directly west of the Shell operated P2252 licence (41/5a, 41/10a and 42/1a).  Simwell was awarded the P2332 licence in May 2017 in the 29th Offshore licencing round. Simwell mapped two Carboniferous leads in the Scremerston Formation and Fell Sandstone Formation and mapped the Permian Zechstein Z3 carbonate play fairway. Simwell believe that each of the two Carboniferous leads could contain more than 500 Bcfg recoverable. The 29th round award was granted with a 3D seismic commitment that has already been satisfied by the 3D survey shot by Shell in the neighbouring P2252 licence, which also extended approximately 160 sq km into P2332. The seismic survey commenced on 1 August 2019 and it was being processed in August 2020. The P2332 licence commitments have therefore been satisfied until the drilling decision which is required before May 2023.   In May 2019 Shell acquired a 70% interest in the neighbouring licence P2252. The licence hosts the Pensacola prospect which has a Zechstein reservoir target and is expected to be drilled in late-2021.  Interest in P2332 is held by Shell UK Ltd (70% +operator) and Simwell Resources Ltd (30%).
summary: (Anglo-Dutch B.) P2332, Simwell Resources has farmed-out a 70% stake and operatorship (blocks 41/3, 41/4 and 41/9) to Shell. The deal has received Oil and Gas Authority (OGA) approval. The licence covers 715 sq km and is directly west of the Shell operated P2252 licence (41/5a, 41/10a and 42/1a).