Veritas Geophysical Ltd.

Transaction Type
Basin
North Sea
Field
Block 30/12c
Post Date
Estimated Price
MM
Description

Veritas Geophysical Ltd.has retained Stellar Energy Advisorsto farm-out its 100% operated interests in the U.K. North Sea.

The Clark Fulmar sandstone prospect on Block 30/12c has mean reserves of 140 million barrels of oil equivalent at approximately 4,250 meters depth. The estimated cost to drill a 4,600 m well to test the Clark prospect is GBP 18 million;

The Surtees prospect on Block 30/29 is a Fulmar formation fault-bound closure with potential mean reserves of 40 million BOE, analogous to Dalmore Field to the north. The Mansell prospect on Block 38/4 is a fault-bound closure, with potential mean reserves of 50 million BOE, and is analogous to Ardmore Field to the north.

Contact Dave Fassom, 44 (0) 20-7493-1977, info@stellarlimited.com.