Andalas Energy and Power has bought a further 10.25% stake in Eagle Gas Ltd for GBPS 225,000 (US$300,000) total consideration (GBPS 125,000 cash, rest in Andalas shares), as announced on 25 July 2018. Andalas now holds 25% of Eagle Gas, after it was previously announced on 16 July 2018 that Andalas had closed its acquisition of 14.75% stake in Eagle Gas for GBPS 150,000 (US$ 200,000) total consideration (GBPS 125,000 cash, GBPS 25,000 shares). Andalas reports that Eagle Gas holds 66.667% of P2112, although the OGA indicates that Holywell Resources has this stake, so it is assumed that Eagle has previously acquired either the 66.667% stake, or Holywell Resources. The licence covers 243 sq km on Southern North Sea part blocks 43/29a & 30b, and 48/4a, 4b & 5a, located 20km W of Schooner Field. It was awarded in the 27th Round on 20 December 2013 to Centrica (subsequently merged with Bayerngas Norge into Spirit Energy), Holywell, and Atlantic, with a firm commitment to reprocess 1,026 sq km of 3D seismic to pre SDM, and an option to drill a well to the shallower of 3,800m MD or 100m into the Namurian. The licence contains the Badger Rotliegend and Carboniferous prospect, and one prior well has been drilled on the acreage, 43/30-1 (1969, BP, 1,100m) which was P&A dry. Spirit Energy exited in January 2018, and remaining partner Atlantic Petroleum UK Ltd (33.333%) also reported in May 2016 that it is withdrawing from the licence.<P /><P />
Andalas Energy and Power has bought a further 10.25% stake in Eagle Gas Ltd for GBPS 225,000 (US$300,000) total consideration (GBPS 125,000 cash, rest in Andalas shares), as announced on 25 July 2018. Andalas now holds 25% of Eagle Gas,