Northern's subsidiary, NP Weald Limited, and its partner Providence Resources (GB) Limited, a subsidiary of Providence Resources P.l.c., have been offered Block SU91 under the UK's 13th Landward Licensing Round, which was announced on May 28. Northern and Providence, who are 50/50 partners, have identified a number of exploration and development opportunities within the block, principally the Baxter's Copse oil discovery and the Burton Down exploration prospect. Providence, who holds a 99.125% interest in the nearby Singleton oil field, will act as the Operator for the group.
Northern has also received notification of the award of a license on the Isle of Wight within blocks SZ38 and SZ48 to its subsidiary Northern Petroleum (GB) Limited, who will act as Operator. The blocks are adjacent to Northern operated PEDL 098 and it was these license group partners that applied for the acreage over a prospect identified as extending into the awarded acreage.
PEDL 098 partners are Northern Petroleum with 62.5%, Magellan Petroleum with 22.5%, Encore Oil with 7.5%, Montrose Industries with 5% and Oil & Gas Investments with 2.5%.
"We are very pleased to have been offered Block SU91 in partnership with Providence," said Derek Musgrove, Managing Director of Northern. "The block lies adjacent to the existing PEDL 126 license which we operate, and on which we have recently received planning approval to drill an eastward extension of the producing Horndean field, and the producing Singleton field, operated by Providence. We look forward to working with our new partner in advancing the opportunities on this acreage."
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