North Kelsey

PEDL241 – North Kelsey

Union Jack hold a 20% interest in PEDL241 containing the North Kelsey Prospect.

PEDL241 is located within the proven hydrocarbon fairway of the Humberside Platform.

This prospect is a well-defined tilted fault-block mapped from 3D seismic. Based on offset well data, potential exists for up to four separate oil bearing stacked conventional reservoir intervals in the Chatsworth, Beacon Hill, Ravensthorpe and Santon sandstones. The nearby Crosby Warren oil field and the Brigg oil discovery are productive from the Upper Carboniferous Namurian
aged reservoirs.

The gross mean combined Prospective Resources for these multiple objectives, as calculated by Egdon, are estimated to be 6.7 million barrels of oil.

The subsurface target location to evaluate the exploration of the North Kelsey Prospect has been defined and a surface drilling location has been identified from which a vertical well can be drilled.

In December 2014, the Planning and Regulation Committee of Lincolnshire County Council granted planning consent for the drilling and any subsequent testing of the North Kelsey-1 well.

The percentage interest holdings are currently as follows:

Holders

Holding (%)

Egdon Resources (Operator)

80.0

Union Jack Oil

20.0

 

100.0

 

PEDL241
North Kelsey

LicencePEDL253
BlocksTF18a (ALL) and TF28a (ALL)
Interest50%
LocationOnshore
TypeConventional
E&P StageExploration
Next ActivityFarmout ahead of drilling

Union Jack holds a 50% interest in PEDL241 containing the North Kelsey Prospect, which is located within the proven hydrocarbon fairway of the Humberside Platform.

North Kelsey is a conventional oil prospect along trend from and analogous to the Wressle oil development, which lies approximately 15 kilometres to the northwest. It is a well-defined tilted fault-block mapped from 3D seismic.

Based on offset well data, potential exists for up to four separate oil bearing stacked conventional reservoir intervals in the Chatsworth, Beacon Hill, Ravensthorpe and Santon sandstones. The nearby Crosby Warren oil field and the Brigg oil discovery are productive from the Upper Carboniferous Namurian aged reservoirs.

The Operator estimates that the Prospective Resources range from 4.66 million barrels up to 8.47 million barrels of oil, with a Mean Resource volume of 6.47 million barrels.

The subsurface target location to evaluate the exploration of the North Kelsey Prospect has been defined and a surface drilling location has been identified from which a vertical well can be drilled.

In September 2020, the existing planning consent for drilling North Kelsey-1 was extended to 31 December 2021 by the Lincoln County Council. Requisite permits for drilling have also been received from the Environment Agency.

Union Jack holds a 50% interest in PEDL241 containing the North Kelsey Prospect, which is located within the proven hydrocarbon fairway of the Humberside Platform.

North Kelsey is a conventional oil prospect along trend from and analogous to the Wressle oil development, which lies approximately 15 kilometres to the northwest. It is a well-defined tilted fault-block mapped from 3D seismic.

Based on offset well data, potential exists for up to four separate oil bearing stacked conventional reservoir intervals in the Chatsworth, Beacon Hill, Ravensthorpe and Santon sandstones. The nearby Crosby Warren oil field and the Brigg oil discovery are productive from the Upper Carboniferous Namurian aged reservoirs.

The Operator estimates that the Prospective Resources range from 4.66 million barrels up to 8.47 million barrels of oil, with a Mean Resource volume of 6.47 million barrels.

The subsurface target location to evaluate the exploration of the North Kelsey Prospect has been defined and a surface drilling location has been identified from which a vertical well can be drilled.

In September 2020, the existing planning consent for drilling North Kelsey-1 was extended to 31 December 2021 by the Lincoln County Council. Requisite permits for drilling have also been received from the Environment Agency.

THE LICENCE LOCATION AND PERCENTAGE INTEREST HOLDINGS ARE AS FOLLOW: