document: Siccar Point Energy E&P LimitedÂ spudded exploration well 208/02-1 on 16 May 2019. The well was targeting theÂ LyonÂ prospect in block 208/02 (P1854) and had a planned TD of 2,666 m. The company was using the âOcean Greatwhiteâ S/S for operations.Â LyonÂ is a Paleocene/Eocene Balder/Flett Formation prospect thought to hold pre-drill mean recoverable resources of 1.4 Tcf (266 MMboe). The well was plugged and abandoned and as of 24 June 2019 the rig had left location.   Licence P1854 comprises blocks 208/1b, 208/2, 208/3b, 217/27b and 217/28b. First Oil which previously operated licence P1854 estimated that a planned well onÂ Lyon would cost in the region of GBP 42 million. In addition toÂ Lyon, First Oil had identified three other prospects in the licence including the Eden prospect which is thought to have pre-drill recoverable resources of 456 Bcf (86 MMboe). TGS shot a 3D survey over the area in 2012 which has helped define theÂ LyonÂ structure.Â LyonÂ has a strong class III AVO anomaly and the reservoir is prognosed to be the shallow marine Balder Sands. First Oil was originally awarded the licence as part of the 26thÂ Seaward Licensing Round.Â In November 2017 Siccar Point announced that INEOS had farmed into the acreage taking a 66.66% interest and on 22 December 2017 an environmental statement was submitted for the well.    Interest in the licence is split between Siccar Point Energy E&P Limited (33.334% + operator) and INEOS UK SNS Limited (66.666%).
summary: 208/02-01 (Lyon) (Siccar Point 33,33% op, INEOS 66,67%) in P1854, P&A, results n/awaited, targets Paleocene/Eocene Balder/Flett Fmâs.