Zennor Petroleum Limited (“Zennor” or “the Company”) is pleased to announce that its wholly owned subsidiaries, Zennor Pathway Limited and Zennor North Sea Limited, have been successful in the UK’s 30th Offshore Licensing Round (“the Round”). Zennor participated in 5 applications in the Round and is pleased to have been offered 5 potential awards.
Zennor Pathway Limited has been offered operated awards in and around its Finlaggan Development Project. These blocks include a small extension of the Finlaggan Field onto previously unlicensed acreage, in addition to a discovery named Leverett, which may form a future potential tieback to the Finlaggan infrastructure. Finlaggan development drilling is set to commence shortly, with the arrival of the Paul B Loyd Jnr semi-submersible drilling rig anticipated in Q3 2018.
In parallel, Zennor North Sea Limited has been offered several non-operated awards concentrated in and around Zennor’s existing Central North Sea acreage. These potential awards include additions to Zennor’s core ETAP area holding with the offer of acreage in conjunction with BP Exploration Operating Company Ltd that includes the previously developed Skua Field; alongside awards in partnership with Nautical Petroleum Ltd (a wholly owned subsidiary of Cairn Energy PLC) and Dyas UK Ltd which comprises acreage contiguous to the Company’s 30% held Ekland Prospect. Planning for Ekland exploration drilling is continuing apace with the well expected to spud later in 2018.
Martin Rowe, Zennor’s Managing Director, said:
“Zennor is extremely pleased with the potential awards offered by the Oil and Gas Authority in the UK’s 30th Licencing Round. These awards go a long way to securing the future opportunity set from which Zennor will craft an asset portfolio capable of exceeding Zennor’s strategic goal to deliver at least 10,000boepd of net production and 100mmboe of 2P/2C resource”.
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