Revus Reels in 6 North Sea Licenses in 25th Round

Revus Energy E&P has been offered for award, six North Sea licenses in the UK 25th offshore Licensing Round. The overall work program attached to the offer includes five firm wells. The award marks a step-change in Revus Energy's UKCS position.

In total, a net risked resource potential exceeding 70 mmboe net to Revus Energy has been estimated from currently available data for all these licenses.

Harald Vabo, CEO of Revus Energy, commented, "This is an excellent award, marking a step-change in our UKCS position. In particular, the Orlando discovery provides the potential for fast track development, whilst our participation in the low risk Crathes prospect greatly enhances our chances of commercialising the adjacent Scolty discovery in which we have a 50% working interest."

Two of the licenses awarded will be operated by Revus Energy.

"We are particularly excited to have been awarded an operatorship in which we will drill our first UKCS operated well. In summary, these awards strengthen our position as a significant player in the UK North Sea sector with a drilling program that provides excellent prospects for growing our hydrocarbon reserve base in the coming years," added Vabo.