UK

Premier Oil PLC took a farmout from Serica Energy PLC to earn a 50% interest in UK Central North Sea Block 22/19c.

By OGJ editors
HOUSTON, Jan. 5
– Premier Oil PLC took a farmout from Serica Energy PLC to earn a 50% interest in UK Central North Sea Block 22/19c.

Premier Oil will drill an exploratory well to 10,000 ft on the Oates prospect in mid-2010 and will become block operator. The block also has the Bowers Paleocene prospect.

Oates is a large Paleocene Forties sand stratigraphic trap identified on 3D seismic data similar to nearby Forties sand fields such as Huntington, Montrose, and Columbus. Serica discovered Columbus in 2006 and is in final development planning.

Serica is in final negotiations to farm out its Conan prospect in East Irish Sea blocks 113/26b and 113/27c, in which it holds 100% interest. Serica will farm out a 35% interest in the license for which the farmee will contribute 70% of well costs. Serica will remain as operator with 65% interest.

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