From Corallian website23 Jan 2019 19:49
Offshore Licence P1918
The licence contains the Colter oil discovery located 2 kilometres south of the Wytch Farm oilfield. Colter was originally drilled by offshore well 98/11-3 in 1986 which recovered oil on test from a 10.5 metres oil column within the Triassic Sherwood Sandstone, the main reservoir at Wytch Farm. Recently merged and reprocessed 3D seismic data has identified potential up-dip of the discovery well. The Company plans to drill an offshore well on Colter during 2019 using a Jack-Up rig. Should the well be commercially successful, development would be via extended-reach wells from onshore as per Wytch Farm. Pmean Prospective Resources are estimated at 23 million barrels of oil equivalent (gross). Corallian holds a 49% interest in the licence and is Exploration Operator.