Morning All22 Sep 2016 09:34
A bit of Norwest Directors Report from full year accounts yesterday below.
I'd love it if it was Engie they were farming it out to MT.
United Kingdom
65% in P2265 (Promote Licence) – Offshore Wessex Basin
Norwest and Hague and London Oil Plc (“HALO”) have two years from November 2014 to reprocess the historical 3D seismic data, select
a drillable target and find a suitable farm-in partner. At the end of this two year period, a commitment must be given to drill a well in the
subsequent two years or relinquish the licence. During the year, reprocessing of the historical 3D seismic data was completed and a final
interpretation report on the reprocessing of the historical 3D seismic data set held over this area was also finalised during the year. Norwest
and partner HALO are in the process of agreeing on the next phase of activity on the permit which may include preparing a farm-out
package over P2265.