Biscathorpe

PEDL253 – Biscathorpe

Union Jack holds a 22% 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 drilling of the Biscathorpe-2 well was intended to test the geological model in which the Wetphalian sands thicken down flank of Dinantian structural highs.

The Biscathorpe-2 well was drilled to a Total Depth of 2,133 metres within the Dinantian Limstone.

Preliminary analysis idicates that the primary objective, the Basal Westphalian sandstone which was encountered high to prognosis, was poorly developed at the Biscathorpe-2 location and was not thickened with respect to Biscathorpe-1 as expected in the pre-drill model.

The Biscathorpe “play” has thus not been properly tested by the well with the results of the well indicating that the Basal Westphalian sandstone has potential to be more thickly developed to the north and north-east of the Biscathorpe-2 location away from what appears to be a more extensive than expected palaeo-high.

The well recorded elevated gas readings and oil shows supported by calculated oil saturations in the Dinantian Carbonate over a 99 mere interval indicating proximity to an effective petroleum system. A number of porous sandstone reservoir intervals were encountered in the shallower Westphalian sequence but all were interpreted as water wet.

The well has been suspended in order to retain the option for a future side=track. This will be considered once the new well data is integrated into an updated subsurface model.

The percentage interest holdings are as follows:

 

Holders

Holding (%)

Egdon Resources (Operator)

35.8

Montrose

22.2

Union Jack Oil

22.0

Humber Oil & Gas

20.0

 

100.0

 

Biscathorpe