Summary

Licence P2350 contains the Leverett discovery which stretches accross blocks 15/29c; 21/2d,3c,3d,4c.  Zennor believes that 4 wells, all containing hydrocarbon bearing Lower Cretaceous reservoirs, define the Leverett accumulation.  Ground breaking seismic migration leading to improved definition of the Lower Cretaceous reservoir, integrated with the knowledge gained from the sub-regional reservoir description and the results from the recent Finlaggan development drilling, gives Zennor the belief that Leverett makes an obvious follow on development opportunity to Finlaggan.  With a reserve base similar to the ongoing development, Leverett could be “daisy chained” back through the Finlaggan infrastructure and on to Britannia for processing in a very capital efficient development scheme.  Zennor is working towards a Financial Investment Decision on Leverett.

The Greenwell prospect also lies in Licence P2350.  Greenwell is a mapped north-easterly extension of the Callanish Field.  The prospect exhibits the same Direct Hydrocarbon Indicator as Callanish, a black-oil field with a Paleocene Forties reservoir that has produced 58 mmboe from four production wells over the nine years it has been in production.  Zennor is working with the Callanish partners to determine how best to progress the drilling and subsequent development of Greenwell.