United Kingdom

Southern North Sea
Blocks 48/15c, 49/11c, 49/12d, 49/17b, 49/6c
License Area 729.5 km2

Overview

Hartshead is 100% owner and operator of License P2607 which is comprised of five blocks in Quads 48 and 49 on the United Kingdom Continental Shelf, in the Southern Gas Basin. The License contains multiple gas fields, some of which have been only partially developed.  There are also several exploration prospects.

Operations

The gas fields and prospects are divided into three phases for workstreams and operations:

PHASE I
Comprises the Viking Wx and Victoria Gas Fields. Both fields have historic production, multiple well penetrations, 3D seismic coverage and combined remaining resources of 217 Bcf of gas (audited 2C contingent resources).  Hartshead has commenced field development planning work on these two fields and intends to define the development concept and gas export route by 2022, Take Final Investment Decision (FID) on the development in 2023 and achieve first gas in 2024.

PHASE II 
Comprises the Audrey NW and Tethys North Gas Fields.  Similarly, these field have production, well penetrations and 3D seismic coverage.  Seismic imaging requires improvement by reprocessing of the data in order to move these fields into development planning.  Hartshead aims to complete seismic reprocessing by the end of 2021, prior to having the contingent resources in Phase II audited and moving these fields forward for development.

PHASE III 
Focuses on the exploration portfolio within the blocks. There are two, already mapped and drill ready prospects, adjacent to existing gas fields.  However, a full review of the exploration potential of the blocks will be carried out and a complete exploration inventory assembled prior to any decision to drill.  It is intended that successful exploration drilling will lead to fields being rapidly tied in to the Phase I infrastructure.

Prospectivity

CONTINGENT RESOURCES (BCF) 1C 2C 3C
PHASE I1 49/17b Victoria 84 125 177
49/17b Viking Wx 62 90 124
PHASE II2 49/6c, 49/11c Tethys North 14 39 79
48/15c Audrey NW 35 100 387
PROSPECTIVE RESOURCES (BCF) P90 P50 P10 GCoS
PHASE III EXPLORATION2 49/17b Vixen SW 29 56 94 50%
49/17b Vixen SE 43 85 142 30%
1Volumetric estimates are from Oilfield Production Consultants (OPC) Ltd, Independent Competent Persons Report (CPR) entitled “Contingent Resources Review and Audit (Victoria and Viking Wx)” dated October 2020.

2Hartshead Resources management estimates

Head Office

Level 1
89 St Georges Terrace
Perth WA 6000
Telephone: +61 8 9226 2011
Facsimile: +61 8 9226 2099

Postal Address

Hartshead Resources
PO Box Z5187
Perth WA 6000

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