Efforts are still being made to secure another company willing to share the cost of drilling a new well on the UK Northern North Sea Leopard prospect with prospect partners hoping drilling can start before the end of the year
Operated by Elixir Petroleum, Leopard lies in UK block 211/18b in licence P1381 which was awarded in the UK’s 23rd Licensing Round in December 2005.
Elixir holds 56% equity in the prospect, Sosina Exploration 14% and RWE Dea SNS Limited 30% after farm-in deal concluded in August last year, which included an agreement to contribute to Leopard drilling costs on a promote licence basis.
Elixir has reported in a quarterly statement that efforts are still being made to find a another farminee to cover its and Sosina’s costs for the Leopard well.
Seismic data has been tested in relation to a preliminary site survey over the proposed drilling area, but a full site survey is still required and talks have started with marine contractors over getting the full survey done.
Nevertheless, Elixir has express hope that drilling can start before the end of the year, despite the current tight rig market although it accepts that the well may not be spudded until 2009.
In its quarterly report, Elixir said: “ Provided the Leopard farmout can be concluded in the near term, we remain hopeful that the Leopard well could be drilled prior to the end of 2008, but more likely during 2009 having made commitment to the well during 2008.”