18 Dec RNS21 Jan 2021 15:45
While no firm decisions have been taken, the Company has focussed on the location, operations planning and execution in 2021 of a new production well in the central "attic" high of the Lancaster field, by re-entering and side-tracking the existing 205/21a-7z well. This could add meaningfully to the production capacity from the existing 205/21a-6 well, accelerate production of existing reserves, and, depending on oil price, materially improve near-term cashflow generation. Development costs are currently estimated at c.$60 million. Subject to a sanction decision early in the first quarter of 2021 and securing a suitable rig and equipment, first production from this well should be possible by late 2021.
So decision to be announced early in the first quarter for sidetrack of 7z...to the Attic of the reservoir
Rig announcement should also come soon ..
Me and my truck like this statement ...