The South-Texas focused unconventional petroleum company Talon Petroleum has entered an agreement to purchase EnCounter Oil. Talon Petroleum is building a position in the UK North Sea and this is the second transaction by the company following their new UK North Sea strategy.
The transaction provides Talon with 100% ownership of two recently awarded, high-impact exploration licences P2363 and P2392 covering the Skymoos and Rocket prospects. Talon Petroleum will, start a farm-out process to secure industry funding for drilling both Skymoos and Rocket.
In October 2018 Talon farmed in to a 10% interest in Licence P2396 containing the 45mmboe Curlew‐A discovery in the Central Graben, where an appraisal well is planned for the third quarter of 2019.
- A structural/stratigraphic closure within the Upper Jurassic Burns Sandstone reservoir with additional potential within the underlying Claymore Sandstones
- Analogous to the Buzzard Field
- On trend with several developed oil and gas discoveries in an area of prolific hydrocarbon charge
- Chance of Success 20% to 30%
- Palaeocene age Cromarty reservoir prospect with additional potential in the overlying Tay Sand
- Significant well control exists immediately to the north
- The Licence borders to the south of the Catcher, Varadero, and Burgman discoveries
- Chance of Success – 20% to 30%
- Curlew-A is an unappraised Tertiary oil discovery made by Shell in 1977 and one of the few remaining undeveloped sizable four-way dip oil-bearing structures adjacent to the prolific Central Graben.
- Discovery well encountered 10.5m net oil sands in the odin and Cromarty reservoirs.
- The License was relinquished in 2016 and recently awarded to Corallian Energy in the 30th License Round.
- The appraisal well will also test a secondary target in the Forties sandstone, not present in the discover well but that may have developed in the southwestern flank of the structure.