Brazil: Karoon Energy announces update on Bauna oil reserves and contingent resource
28 Jan 2021
Santos Basin concession BM-S-40 containing the
Baúna oilfield and Patola oil discovery. This announcement represents an update to the summary of the Competent Persons Report (‘CPR’) prepared by AGR Petroleum Services Reservoir Management Division (‘AGR’) announced to the ASX on 9 November 2020. Following completion of the Baúna acquisition, also announced on 9 November 2020, Karoon is 100% owner and Operator of the BM-S-40 concession.
The updated assessment, which is effective as of 1 January 2021, reflects that there has been no reduction in reserves (when compared to those announced to ASX on 9 November 2020), other than commensurate with oil production volumes during the period 1 July 2020 to 31 December 2020 reflecting asset performance that is in line with expectations. Production for the period 1 July 2020 to 31 December 2020 was 2.8MMbbl or 15.2kbpd. The assessed Con
Acquisition of a Further 15% Interest in the Biscathorpe Project PEDL253
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that it has agreed to acquire a further 15% economic interest in PEDL253 containing the Biscathorpe project ( Biscathorpe ) from Humber Oil & Gas Limited ( Humber ).
Following completion of the acquisition Union Jack will hold a 45% interest in PEDL253.
Highlights ·PEDL253 is located within the proven hydrocarbon fairway of the Humber Basin, on-trend with the Keddington oilfield (Union Jack 55%) which produces oil from a Carboniferous Westphalian aged reservoir ·Union Jack will acquire a 15% interest in PEDL253, containing the Biscathorpe project, increasing its interest to 45%