Wessex Exploration report the provisional award by the UK Department of the Environment and Climate Change of varied interests in five Promote exploration blocks, offshore Southern England, located within the English Channel.

The second tranche of awards in the 26th Seaward Licensing Round was announced by DECC on 30 December 2011. Wessex and NWE Mirrabooka Pty Limited , a subsidiary of Perth based, Australian listed company Norwest Energy NL will hold 35% and 65% equity and working interest in the Blocks respectively. NWE Mirrabooka will be the administrator .

Subject to relevant documentation being completed in respect of acceptance of the offer of the Blocks the awards will allow Wessex and NWE Mirrabooka to explore the Blocks for a period of two years. Geological and geophysical studies will be conducted in conjunction with the acquisition and interpretation of new 2-D seismic data. The interests can convert from a Promote to Traditional status with a drill-or-drop well commitment.

The Blocks offered are 98/6b, 98/7b, 98/8, 98/12 and 98/13. The interests in the Blocks lie to the east and southeast of the giant Wytch Farm oil field. The acreage is believed to contain at least six different structural leads with a geological chance of success of these leads ranging from 15% to 32%.

The provisional award of the Blocks complements Wessex's existing interests in Southern England in which it holds 50% and 25% in two Petroleum Exploration and Development Licences, PEDLs 238 and 239 respectively.

Tags: Wessex Exploration PLC