Biscathorpe

PEDL253 – Biscathorpe

Union Jack holds a 12% interest in PEDL253, located within the proven hydrocarbon fairway of the Humber Basin, on trend with the Saltfleetby gas field and the Keddington oil field which produces from the Upper Carboniferous Westphalian aged reservoir sandstones.

The Biscathrope Prospect is a well defined four way dip closed structure mapped from recent reprocessed 3D seismic.  The Biscathorpe structure was initially drilled and tested by BP in 1987 with the Biscarthorpe-1 well which encountered 1.2 metre thick, oil-bearing sandstone of lower Westphalian age with a 24 metre gross sequence.  Biscathorpe-2 will be located in a direction towards a potentially thicker sand development within the structural closure of the trap.  The sand unit is predicted to thicken away from the crest of the structure and there is also potential for stratigraphic trapping in the west which,  if present, could increase the expected total prospective reserves.  The same sand unit is the producing reservoir in the Egdon opperated Keddington oil field. 

A subsurface location to evaluate the exploration potential of the Biscathorpe Prospect has been defined and a surface drilling location has been identified  from which a vertical well to the depth of 2,100 metres can be drilled to test the primary surface objective.

In March 2015, at a Planning and Regulation Committee Meeting of Lincolnshire County Council, planning consent was granted for the drilling and any subsequent testing of the Biscathorpe-2 exploration well.

Biscathrope-2 is planned to be drilled in during 2017.

The mean Prospective Resource volume for the main reservoir objective, a calculated by Egdon, is 17.81 million barrels of oil.

The percentage interest holdings are as follows:

 

Holders

Holding (%)

Egdon Resources (Operator)

52.8

Montrose

35.2

Union Jack Oil

12

 

100.0

 

 

Biscathorpe