UKCS P1918 Area – Colter
Baron earned an 8% interest in P1918 (Block 98/11a) and in onshore PEDL330 and 345 by paying a disproportionate share of the Colter exploration well (98/11a-6). This well was planned to test the Colter Prospect, thought to be capable of containing Pmean recoverable Prospective Resources of some 26.8 mmbbls of oil equivalent, and drilling commenced on 6 February 2019 using the Ensco-72 jack-up rig.
The wellbore unexpectedly remained on the downthrown side of the Colter bounding fault. Instead, the well encountered oil and gas shows over a 9.4 m interval at the top of the Sherwood Sandstone and reached a TD of 1,870m MD. Log evaluation indicated a net pay of 3m. Similar shows were encountered by well 98/11-1, drilled in 1983, and analysis of the new data indicates that the two wells may have a common oil-water contact, having both intersected the down-dip margin of the Colter South Prospect. A side-track (98/11a-6z) was drilled to a TD of 1,910m MD but encountered the Sherwood Sandstone below the oil-water contact of the original Colter Prospect. Evaluation indicates that the Colter Prospect is smaller than pre-drill estimates and the majority of the Prospective Resources resides in the Colter south portion of the play. Pre-drill, the Operator (Corallian Resources Limited) had an estimated Pmean recoverable Prospective Resource volume of 15 mmbbls for Colter South. Work continues on the re-mapping and evaluation of the area, which will be used to determine a forward plan to maximise the potential value associated with the Colter and Colter South Prospects.
PEDL345 includes the major part of the Purbeck Prospect, in which the presence of oil and gas was demonstrated by the Southard Quarry-1 well, drilled by BP in 1990. This Prospect lies on trend with Kimmeridge oilfield, which has been producing since the 1960s.