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UK North Sea
Petroleum U.K. Limited has reached an agreement with Atlantic Petroleum
to farmout a 20% stake in P1100, Blocks 20/4a and 20/9a containing the
Polecat discovery in return for carrying a share of the cost of an appraisal
well. The initial Polecat discovery was drilled in 2005 when oil was
discovered in the 20/4a-8 well and was successfully appraised by the
20/4a-9 well in 2010. The reservoir is Upper Jurassic Buzzard equivalent
sandstones. The blocks lie to the east and south east of Atlantic Petroleum's
Ettrick & Blackbird producing assets which are operated by Nexen
Petroleum U.K. Limited.
Stellar acted as advisors to Nexen.