PEDL143 (Holmwood)Weald Basin

 

Licence PEDL143
Europa interest 20% (operator)
Partners UKOG 30%, Egdon 18.4%, Union Jack 7.5%, Warwick Energy 10%, Angus 12.5%, Altwood 1.6%
Area km2 91.8
Basin Weald
Play Jurassic (conventional)
Term Phase 1

 

South of Dorking in Surrey, PEDL143 contains the Holmwood conventional oil prospect. Holmwood is predicted to have conventional Jurassic sandstone and limestone reservoirs which are proven to be productive at the nearby Brockham oil field and at the Horse Hill oil discovery. The Holmwood prospect has been assigned gross mean prospective resources of 5.6 million boe with a range of 1 to 11 million barrels. Were it to come in at 5.6 million boe, Holmwood would become the fifth largest onshore oil field in the UK. As a result, Europa regards Holmwood as one of the best undrilled prospects onshore UK.

Planning permission has been granted to drill a temporary exploratory borehole to a depth of 1,400m. The well is being planned for drilling in 2017 and has been assigned a geological chance of success by Europa of 1 in 3. Europa is operator with a 20% interest in the licence and has a full carry on its share of the exploration well costs up to a cap of GBP3.2 million.

The results of the nearby Horse Hill well in PEDL137 which lies 8km to the east are relevant to the Holmwood prospect. Horse Hill is along-strike in a very similar geological structure and correlation of seismic data indicates that the Holmwood well will penetrate a similar stratigraphic section. In addition to producing oil from Portland sandstone reservoirs, Horse Hill also produced oil from micritic limestone formations in the Kimmeridge section. One of the peculiarities of limestone reservoir rocks (compared with sandstones) is that typically there are no, or very weak, direct hydrocarbon shows whilst drilling and often only inconclusive indications of hydrocarbons on electric logs. It is therefore encouraging that Horse Hill yielded 1,365 bopd aggregate flowrate from two limestone intervals, which suggests it is possible that the micritic limestone may be a “missed pay” in the Weald basin.