uk properties - for sale advertising info., page-5

I found quite a bit more information on the UK properties being purchased in an advertisement on www.zebradat.com.

I'll leave it for anyone interested to follow their nose to the respective ad for PEDL 235 and 241 and suggest you read the PDF file.

Midmar's proposed development plan for each field is included and it appears this plan is what Key will probably be doing.

Brockham Field - The reservoir is encountered at 600m TVD. It appears that the BR-4 well has irreparable mechanical issues that are causing underperformance. The plan is to drill a sidetrack from this well at a cost of approx. GDP500,000 for an increase in production of 100bopd.

Lidsey Field - The current single well is producing at 40 bopd from a reservoir at 1,000m TVD. Schlumberger have suggested what they need to do (barefoot horizontal wells) that has been succesful at other wells in the area. These would be capable of generating up to 500 bopd after an initial flow-rate possibly exceeding 1,800 bopd. Two other wells in their future plans could possibly intersect fracture nests.


The development upside for the two field is estimated to be capable of 2.9+ MMbor upside accessible through the drilling of three new wells.

This is starting to look like a very shrewd purchase.