DEO expects operator EnCore Oil to spud a commitment well this summer. DEO has a carried interest of 12.62% and will make no cash contribution to the dry-hole cost of the first well.
The Gamma/Spaniards equity is held by Encore (28%), Nautical Petroleum (21%), Serica Energy (21%), DEO (12.62%), Faroe Petroleum (8.4%), Maersk Oil (5.74%), and Atlantic Petroleum (3.24%).