Project Profile
Value: Undisclosed
Location: Licence P.1650, Block 14/13, Outer Moray Firth (UK) north of Claymore Field, UK
Reserves: 95 – 260 mmboe gross in Scapa Sands only and 126 mmboe net P50
Trapoil, via its wholly owned subsidiary Trap Oil Limited, holds a 22% working interest in Licence P.1650 (Block 14/13) (Crazy Horse). Noreco owns the remaining 78% in respect of this licence and is the operator. The Crazy Horse prospect is located in Licence P.1650, Block 14/13, Outer Moray Firth (UK) north of Claymore Field. Well will test both the Scapa sands (primary target) and Lower Cretaceous Captain Sands. Reserves are estimated at 95 – 260 mmboe gross in Scapa Sands only and 126 mmboe net P50.
Following changes to the rig schedule which meant that the well could not be drilled in 2012, DECC granted an initial provisional extension to the licence of 6 months, to August 11th 2013, in order to source a rig for drilling in late 2013/2014. A further extension was granted to secure a rig contract but this proved unsuccessful. Trapoil voted against relinquishment of the license and proposed that, subject to DECC consent, the license be retained in order to allow the Group time to drill the firm commitment well. Noreco, however, vetoed this recommendation and the license was determined on 12th December 2013.
Operators:
Norwegian Energy Company UK Limited (Noreco)
Trapoil (TRAP)