LONDON -- EnCore Oil has signed an agreement with Century Exploration (UK) to increase its equity in UKCS block 9/27a from 10% to 87.5%. In addition to increasing the equity held in the block, EnCore will be assuming block operatorship. The other co-venturer on the license is Granby Oil & Gas plc.
"EnCore's regional work in this area suggested that there may be overlooked potential in the block," says Alan Booth, EnCore's CEO. "It is particularly pleasing to see the recent success announced by Fairfield Energy in adjacent block 9/28. We believe that any redevelopment of the Crawford field will significantly reduce the threshold for commercial developments in block 9/27a."