Agora farms into UK East Irish Sea blocks

Agora Oil & Gas (UK) has farmed into Serica Energy’s UK East Irish Sea blocks 113/26b and 113/27c, which contain the Conan and Doyle prospects.

Offshore staff

LONDON -- Agora Oil & Gas (UK) has farmed into Serica Energy’s UK East Irish Sea blocks 113/26b and 113/27c, which contain the Conan and Doyle prospects.

An exploration well on the Conan prospect, 70% funded by Agora, is planned for the second quarter. In return for the funding, Agora will earn a 35% interest in the blocks. Serica Energy will retain a 65% interest and operatorship.

Conan is a Triassic Sherwood sand gas prospect identified on 3D seismic data; it covers approximately 28 sq km (11 sq mi). It is adjacent to the producing Millom gas field and to the recent Rhyl gas discovery. Due to its proximity to existing gas production infrastructure, a discovery at Conan could be developed relatively quickly, Serica says.

01/20/2010

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