RE: RBD17 Jan 2019 18:01
Only the same as you currently. I don't recall Reabold being vocal about them yet, however as they have a 32.9% interest in Corallian Energy they entitled to recover profit without the drilling costs. So win-win, I suspect, however, that if Colter, turns out to be successful it would be sold via IPO or sale to industry prior to the development of the project, and possibly including the 'other license areas'.
So it was interesting to see what Corallian Said in relation to partners.
'We continue to make good progress with securing funding partners for two further wells in 2019, the Curlew-A appraisal well in licence P2396 and the Oulton West appraisal / exploration well in licence P2222. '
and what they have mentioned previously
Offshore Licence P2396
The licence contains the Tertiary Curlew-A oil accumulation discovered by well 29/7-1 (Shell, 1979). The discovery well found light oil in Tertiary Odin and Cromarty Sandstones (net 10.5 metres oil sands) within a salt-cored anticline. The anticline covers an area of approximately 21 square kilometres. Corallian plans to drill an appraisal well in H2 2019 to a depth of approximately 2,700 metres sub-sea in a water depth of approximately 90 metres.
A Competent Person’s Report (CPR) on Curlew-A was completed by Software Information Solutions, Schlumberger Oilfield UK (SLB) in October 2018. 2C Contingent Resources are estimated at 45 million barrels of oil equivalent (gross).
Corallian holds a 90% interest in the licence and is Licence Administrator.
Offshore Licences P2222 and P2398
The P2222 licence contains the Oulton oil discovery. A well on Oulton in 1974 recovered oil on test from the Jurassic Emerald Sandstone. P2398 is located on the flank of the Jade, Jawdaw and Blane fields. Coraliian hold a 100% interest in the 2 licences.
Onshore Licences PEDL330 and PEDL345
These licenses contain the Purbeck Prospect, an anticline which was drilled by the Southard Quarry-1 well in 1989, logging 8 meters hydrocarbon column in the Jurassic Bridport Sandstone. New seismic data was acquired over the prospect in 2016. Corallian holds a 49% interest in the licenses and is Exploration Operator.
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