Overview

The Abbeydale licence, P2442, was awarded to IOG at 100% working interest in May 2018 in the 30th Licensing Round, of which 50% has been farmed-out to CalEnergy Resources in Q3 2019. IOG committed to reprocess 150 sq. km of 3D seismic and undertake reservoir modelling studies with a drill or drop well commitment by end October 2022.

Management estimates contingent resources on Abbeydale are:

 

Net Management Estimate Prospective Resources (Bcfe)

Low

Best

High

Abbeydale

3

6

15

(Source: Management estimates - October 2018)

History

The Abbeydale discovery, (previously known as Aberdonia) was proven by well 53/1a-13 drilled by Mobil in 1996.

Development

We are committed to reprocess 150 sq. km of 3D seismic and undertake reservoir modelling studies with a drill or drop well commitment within 4 years of licence award.

The new 3D seismic work programme is expected to increase these estimates to more commercial levels with a view to tying into the Thames pipeline as the export route.