Wintershall Offers Farm-in Opportunity in the North Sea

Indigo Pool reports that Wintershall Holding AG is offering a farm-in opportunity of up to 50% in the German North Sea. The opportunity involves the drilling of an appraisal well in License B20 008/71 in 2009.

The license includes 2,571 square kilometers of Blocks H15-H18 and L1-L5, just north of the onshore area (Kustenmeerzone) of the German North Sea and adjacent to the Netherlands border. The water depths for the area range from 25 to 35 meters. Wintershall currently serves as operator of the license with 100%.

Wintershall has recently completed a study of the Southern North Sea that found that significant prospects remain in the southwestern part of the German North Sea and that there is major appraisal potential in relation to existing discoveries.

Because of this, the company plans to drill the exploratory well to decipher the gas-bearing Rotliegend Havel sands in the L1-Alpha structure. The estimated P50 GIIP-range of this prospect is 328 BCF.

With up to 50% available, interested companies will carry the costs of an appraisal well and the contribution toward past costs. The company is also open to asset exchanges. Offers will be accepted until March 15, 2008.