RE: Stronger update yesterday14 Feb 2023 12:11
TerryMC1 - that sounds very logical to me. I am looking forward to taking a position here very soon :-)
https://www.calenergyresources.com/assets
Southern Gas Basin, UK
CalEnergy Resources (UK) Limited owns a 50% interest in the Saturns Banks area in the UK’s Southern gas basin. This area contains seven exploration, pre-development and development Assets, the recently recommissioned Thames pipeline and Thames reception facility (part of the Bacton terminal on the Norfolk coast).
Out of the seven assets, one is under appraisal, three in pre-development and three are in the development phase. FID was taken in October 2019 on the Southwark (License P.1915, Block 49/21c), Elgood (License P.2260, Block 48/22c) and Blythe (License P.1736, Blocks 48/22b and 48/23a) assets with first gas expected in March 2022.
Elland, formerly Vulcan East, (License P.039, Block 49/21a J and License P.2212, Block 49/21d), Nailsworth, formerly Vulcan NW, (License P.130, Block 48/25b and License P.2342, 48/25a) and Goddard (License P.2438, Blocks 48/11c and 48/12c) are currently in the pre-development phase and forms part of Saturns Banks Phase 2 development.
The Abbeydale discovery (License P.2442, Block 53/1b) has a drill or drop decision commitment by November 2022.
All Saturns Banks assets are gas discoveries, contained within a reservoir of Permian Leman sandstone.
The Thames pipeline previously evacuated gas from Thames area complex and was decommissioned in 2015. This has been recommissioned by the JV and will export gas from the Saturns Banks portfolio to the Bacton gas terminal.
CalEnergy Resources (UK) Limited farmed into these assets in July 2019.
KEY FACTS
CalEnergy Equity
50%
Location
Southern Gas Basin, UK
Operator
IOG Ltd
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