
MPX North Sea Limited announces that the Orlando Appraisal well 3/3b-13 spudded on the 2nd November 2011. The Awilco WilHunter is anticipated to be on location for approximately 45 days, drilling a deviated well which will be suspended for a future re-entry and conversion to a producing well once the Orlando Development commences. The predicted total depth is 14,245 ft or approximately 12,000 ft vertically. The well is targeting a producing Brent horizon that flowed at 2,800 bopd in the discovery well 3/3b-11. MPX, the operator, has a 30% interest in the P1606 Licence and its partners are Sorgenia E&P (UK) Ltd and Iona Energy Company (UK) Ltd who each have a 35% working interest.
Once the well is complete the rig will transfer to the P1633 Group to drill the Timon exploration well in Block 211/11b. MPX North Sea Limited and Sorgenia E&P (UK) Ltd each have a 15% working interest in the P1633 Licence alongside Agora Oil & Gas (UK) Limited (35%), Taqa Bratani Limited (18%) and Wintershall E&P Limited (17%).
Blocks 47/4d, 47/5d, 47/10c and 48/6c are being offered by MPX on behalf of its sister company, Sorgenia E&P (UK) Ltd. Sorgenia would like to farm out part of its interest in the upcoming Rotliegend targeted Pharos exploration well. An information memorandum is available here and a dataroom commences on 5th September 2011.
MPX Energy Limited announces that Sorgenia International B.V. has increased its shareholding in the Company to 67.9 % through a new placement of shares. The increased working capital is intended to be utilised in MPX’s participation in the Orlando development and the anticipated 2012 exploration programme.
All stakeholders in MPX are pleased with the further injection of funds and on-going support for the exploration and development programme from the Company’s major investor.
Effective 13th May 2011, the DECC has awarded MPX a further block in the 26th Licensing Round. The Block formerly known as 29/9e has been amalgamated into Block 29/9d, Licence P1565 awarded in the 25th Licensing Round. The new Block will still be known as 29/9d and will share the contingent well commitment due before 11th February 2013. The updated percentage interests on the Licence are Venture North Sea Oil Ltd 67.5% (Operator), MPX North Sea Limited 20% and Sorgenia E&P (UK) Ltd 12.5%. The partnership has purchased long offset data and the operator Centrica, is currently interpreting the data.
MPX North Sea Ltd has signed a drilling contract with Awilco Drilling Plc to utilise the Wilhunter for one firm well on the Orlando discovery (Block 3/3b) and one optional well on the Timon Prospect (Block 211/11b). The drilling of the appraisal well on Orlando is anticipated to commence early in July 2011.
Operations have commenced to shoot site surveys over Orlando and Timon utilising the Fugro Galaxy, and will be shot together with a Pipeline Route survey for Orlando.
Following approval from the Department of Energy and Climate Change, MPX North Sea Limited has now completed the recent transactions over Licences P1633, P1482 and P1566 (detailed in previous press releases). In addition, the DECC also approved a farm out by Sorgenia E&P (UK) Ltd to Agora Oil & Gas (UK) Limited of a portion of their interest in P1633 such that the interests on the Licence are now MPX 15%, Sorgenia 15%, Wintershall E&P Limited 35% and Agora 35%.
On Licence P1606 (Block 3/3b), Iona Energy Company (UK) Limited has completed the purchase of Wintershall E&P Limited’s entire 35% interest in the Licence which contains the 3/3-11 Orlando Discovery. The new partnership Group intends to drill an appraisal well mid-2011 and anticipates signing a rig commitment in the near future. The Group, with MPX as operator, is actively following an aggressive timeline in order to see the Field developed as soon as is feasible. Site surveys for both the Orlando appraisal well and a potential well on P1633 (Block 211/11b) are planned to be undertaken in April.
MPX also relinquished two Licences in February 2011: P1646 (Block 9/9h) and P1684 (Block 3/23b). Further, Carrizo Oil & Gas Inc. relinquished Licence P1656 (Block 16/6b) in which the Company held a 30% interest.
Finally, MPX has integrated its business interests in the UK with its sister company, Sorgenia E&P (UK) Ltd, such that MPX is now responsible for the management of all commercial and technical aspects of Sorgenia’s UK portfolio, much of which are interests in the same Licences as MPX.
MPX North Sea Limited has acquired, subject to DECC approval, a 15% equity interest in UK Southern North Sea Licence P1566 (Blocks 47/4d and 47/5d) from the Operator, Dana Petroleum E&P Limited. Sorgenia E&P (UK) Ltd has taken a 35% equity interest alongside MPX and consequently Dana will retain a 50% interest. Licence P1566 is a 25th Licensing Round award with an outstanding contingent well which, if it is to be drilled, must be undertaken by February 2013.
MPX is extremely pleased to acquire an interest in two very prospective blocks adjacent to the producing Hyde and Minerva Fields in the Southern Gas Basin.
MPX North Sea Limited has agreed to transfer, subject to partner and DECC approvals, a 15% equity interest in Licence P1633 (Blocks 211/11b & 16b) to Agora Oil and Gas (UK) Limited in return for a 25% equity interest in Licence P1482 (Blocks 113/26b and 113/27c) in the East Irish Sea. MPX, the Operator of Licence P1633, will retain 15% interest alongside Wintershall (E&P) Ltd and Sorgenia E&P (UK) Ltd, each holding a 35% interest. Licence P1633 has a firm well commitment which must be drilled prior to February 2013. Licence P1482 is a 24th Licensing Round Block with no remaining commitments and the partners will be Agora, who retain a 10% interest, and Serica Energy (the Operator) with 65% interest.
MPX welcomes Agora Oil and Gas (UK) Ltd to the P1633 Licence. The Company is also delighted to have the opportunity to enter a very prospective Licence in the East Irish Sea and looks forward to working with the existing partners to determine future drilling activity.
MPX North Sea Limited has been offered operatorship of two Traditional Licences in the 26th Offshore Licensing Round.
The first award covers Northern North Sea Blocks 9/9d, 9/14a and 9/15d. MPX has a 50% interest alongside partners, Bridge Energy (CNS) Limited and Sorgenia E&P (UK) Limited, who have 30% and 20% interests respectively. The second award covers Central North Sea Blocks 22/1a and 22/2c, in which the Company has a 40% interest, with Sorgenia E&P (UK) Limited and Cirrus Energy UK Limited each having a 30% interest. The work programmes on the Licences consist of reprocessing 3D seismic data, whereupon drill or drop decisions will be made.
The Blocks contain prospects that were top ranked during the Company's 26th Round evaluation and MPX is therefore very pleased to be offered these Licences.
Midmar Energy UK Ltd, MPX Resources Ltd’s partner in Block TQ54, Bidborough, Kent, has announced that it has received planning permission from Kent County Council to drill two appraisal wells and to carry out a 90 day extended well test. Licence PEDL248 was awarded to MPX and Midmar in the 13th UK Landward Licensing Round. Midmar have confirmed that preparatory work will commence shortly and that drilling is anticipated to take place during the first quarter of 2011.
MPX North Sea Limited (a wholly owned subsidiary of MPX Energy Limited) has assigned an interest of 35% in each of Licences P1606 (Block 3/3b) and P1633 (Blocks 211/11b & 16b) and a 70% interest of Licence P1646 (Block 9/9h) to Sorgenia E&P (UK) Limited. MPX retains a 30% interest in each Licence. Each assignment was part of an arrangement made with Sorgenia prior to the award of the Blocks in the 25th Licensing Round. The assignment of Licences P1606 and P1633 was completed, with DECC approval, on 1st March 2010, whilst P1646 was completed on 14th December 2009.