Hansa Hydrocarbons builds on its position around the Juliet field

22 December 2011

Hansa Hydrocarbons builds on its position around the Juliet field

Hansa Hydrocarbons Limited ("Hansa") has completed the acquisition of an interest in Licence P1745 covering Blocks 47/14c and 47/15c (the "Licence") adjacent to its Juliet field in the Southern North Sea from the First Oil Expro Ltd ("First Oil").

Hansa will acquire a 19% working interest in the Licence which was awarded under the UK 26th Offshore Licencing Round in 2010.  First Oil will retain a 29.44% working interest, with GdF Suez E&P UK Ltd ("GdF Suez") holding the remaining 51.56%.  GdF Suez is the operator of the Licence.

Blocks 47/14c and 47/15c are located in the UK Southern North Sea some 40km due east from the Humberside estuary in approximately 50m of water.  As with the adjacent fields, the exploration targets are in the prolific Rotliegend Leman sandstone which exhibit excellent reservoir characteristics in the area.  The blocks are located directly south of the Juliet gas field wich was discovered in December 2008 with well 47/14b-10.  The Juliet field is owned by the same partnership and the partners are working towards a final investment decision in early 2012.

John Martin, Hansa Hydrocarbon's CEO, said:

"We are most pleased with the addition of these blocks to the portfolio, which build on the position we have in the Juliet field.  The Juliet facilities will be designed to cater for additional development and therefore prospectivity in these blocks will be economically attractive.  Moreover, having the same partnership across the wider Juliet area should ensure alignment when coming to jointly determining future exploration and appraisal activity." 

For more information, visit www.hansahydrocarbons.com.