P2567 – Cadence

P2567 is a 32nd Round licence located to the north west of the Pegasus and Andromeda complex. The 43/11 block was previously held by Deltic as P2248 and contains the Cadence, Bassett and Bathurst prospects, whilst the newly awarded 43/12b contains the Cordova prospect. A farm out to Cairn Energy Plc was announced in August 2021 and is expected to complete by year end.

Block Details
Licence No: P2567
Award Date: 01/12/2020
Blocks: 43/11 & 43/12b
Area: 360km2
Equity position: 100%

Cadence Prospect

Cadence is a large Carboniferous faulted inversion structure which is predicted to have multiple reservoir levels, in the Scremerston and Fell Formations. Deltic Energy carried out extensive work on the Cadence prospect during the P2248 licence period and now see it as effectively drill ready and will begin the process of attracting the best partner to drill this prospect.

Resource Summary

Licence Ref DELT Equity Prospect  Type Net Prospective Resource (BCF) Risk Factor %
P90 P50 P10
P2567 100% Cadence Scremerston 30 143 472 26
Fell 188 454 861 16
Cordova BPU 32 124 329 26
Bathurst Triassic 119 275 571 22
Bassett Triassic 36 128 303 37