Project Profile
Location: Moray Firth basin, Central North Sea
Gross Recoverable Resources: 12 million barrels of oil
Relinquishment Date: 21st December 2014
Jersey Oil and Gas (formerly Trapoil) saw its stake in P.1267, which covers Blocks 2/25a and 13/21b, rise to 90% following Dana Petroleum\'s withdrawal. The licence lies in the Moray Firth basin on the UK Continental Shelf and contains the Surprise and Nutmeg discoveries which proved oil in the Early Cretaceous Coracle and Punt sandstone reservoirs.
The company\'s future plans for the licence include the drilling of a single sub-horizontal deviated appraisal well in order to establish commercial flow rates from the Coracle reservoir. If the well is successful, Jersey Oil and Gas will then look to progress the asset to the field development plan stage.
Operators:
Jersey Oil and Gas (formerly Trapoil): Operator with 90% interest
First Oil Exploration: 5% interest (withdrew in early 2014)
First Oil Expro: 5% interest