Fairfield to Purchase Acreage Near Dunlin Field

Fairfield Energy has announced that, through its subsidiary Fairfield Betula Limited, it has executed Sale and Purchase Agreements with Shell U.K. Limited, Esso Exploration and Production UK Limited and Statoil (U.K.) Limited for acreage adjacent to the Dunlin Field. The acreage includes the undeveloped discoveries Skye and Block 6 and is being purchased jointly by Fairfield (70%) and its partner in the Dunlin Area, Mitsubishi Corporation’s subsidiary MCX Dunlin (UK) Limited (30%). The transaction is subject to UK government approvals.

Fairfield's Chief Executive Officer, Mark McAllister, commented, "This acquisition adds yet more acreage to our portfolio around Dunlin and, combined with the recent 25th Licensing Round award of acreage immediately to the east of Dunlin, this acreage to the west consolidates our position in one of our key core areas. We see potential in the undeveloped discoveries which can be readily tied back to our operated Dunlin platform. In addition, there is significant prospectivity in the acreage which can be tapped by wells drilled directly from the platform."