P2352 – Dewar

P2352 is a 30th Round licence situated in the East Central Graben of the Central North Sea, SE of the Marnock field, and contains the Dewar prospect in the Forties Sandstone.  P50 Prospective Resources are estimated at 39.5mmboe which is considered to be highly attractive given is location close to the existing production infrastructure of ETAP (the BP operated Eastern Trough Area Project) which has recently been the subject of a significant life extension project.

The surrounding area has seen significant activity recently with first oil at the Culzean field in 2019 and new developments proposed on the Seagull discovery and the Skua field.

Deltic has a 100% working interest in the field and is actively seeking partners to progress the drill ready Dewar prospect.

Block Details
Licence No: P2352
Award Date: 01/10/2018 (Phase A – 4 years)
Blocks: 22/24f & 22/25g
Area: 88km2
Equity position: 100%

Dewar Prospect

Dewar is a Palaeocene aged Forties Member submarine channel situated south east of the Marnock field, at approximately 2900m depth. Part stratigraphic, part structural, this NW/SE elongate channel feature has an amplitude anomaly mapped at Top Forties that brightens strongly into the far offsets, with a predicted Class 2 anomaly. Recent technical and volumetric analysis based on newly available high quality 3D seismic has upgraded the P50 Oil-in-Place to 139 million barrels, and the Recoverable Resources to 39.5 million barrels.

Tesla Discovery

Well 22/24c-11 (Tesla), drilled in 2009 by GDF SUEZ, targeted the Triassic Skagerrak Fm which was found to be dry, but did intersect oil bearing Pentland Fm sands in the Jurassic. The discovery was judged to be non-commercial but highlights the working petroleum system in the licence.

Resource Summary

Project DELT Equity Prospect Type PRMS Status  Prospective Resources (mmbbls) Risk Factor %
P90 P50 P10
P2352 100% Tesla Jurassic Discovery Not reported 100
Dewar Palaeocene Prospect 10.5 39.5 80.5 41

Farm-in Opportunity

Given our 100% equity position in this licence DELT is actively looking to attract funding and / or an Operating partner to support the maturation of this asset towards drilling activity.