United Kingdom

Through its 100% subsidiary, Terrain Energy, Evoterra owns interests in six onshore oil and gas licences in the UK.

Following the formation of Evoterra and the integration of Terrain Energy into this energy transition company a review of all these onshore licences is underway with a view to determining how the recognised future potential fits with the aims of Evoterra.

PL199 – Whisby Oil Field

Licence PL199 which contains the Whisby oil field, is located in Lincolnshire in the East Midlands Petroleum Province. Terrain holds a 5% interest in the licence but currently has an 85% interest in oil production from well Whisby -6.  The Whisby-6 well was successfully drilled by Terrain in 2016 and encountered a good oil-saturated basal Carboniferous sandstone which is one of the primary reservoirs in the area. Initial production of 168 barrels of oil per day was achieved. Although the production rate has dropped the well is able to produce around 50 barrels of oil per day.

The Whisby oil field also contains the Whisby-4 well which is currently producing ~ 50 bopd.

Following a detailed reinterpretation of all of the seismic and well data the potential to drill at least two new development well has been recognised which could increase the daily production to at least 200 barrels per day.