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Competent Person's Report on UK Licence P2478
Competent Person's Report on UK Licence P2478.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n 16 February 2023\n \n \n \n \n Reabold Resources Plc\n \n \n \n \n (\"Reabold\" or the \"Company\")\n \n \n \n \n Competent Person's Report on UK Licence P2478 (\"Dunrobin\")\n \n \n \n \n \n \n \n \n Reabold Resources plc, the oil & gas investing company with a diversified portfolio of exploration, appraisal and development projects\n , is pleased to announce that a copy of a Competent Person's Report (\"CPR\") prepared by RPS Group (\"RPS\") on UKCS Licence P2478 on behalf of the Joint Venture partnership with Baron Oil plc and Upland Resources (UK Onshore) Limited (each with a 32% working interest) (the \"JV\"), in which Reabold is the Licence Administrator with a 36% working interest, can be viewed on its website at the following link:\n \n www.reabold.com/investor-relations/reports-and-presentations/\n \n \n \n The CPR has been prepared in accordance with the June 2018 Petroleum Resources Management System (\"SPE PRMS\") as the standard for reporting. The key points from the CPR and a summary of the gross and net technically recoverable prospective resources are set out below.\n \n \n \n Key Points\n \n \n \n \n ·\n 201 mmboe1 aggregate gross unrisked2 Pmean Prospective Resources on licence P2478\n \n \n \n \n \n \n \n ·\n The Dunrobin West prospect (\"Dunrobin West\"), agreed by the JV to be the proposed location of the first exploration well on the licence, would target 119 mmboe aggregate gross unrisked Pmean Prospective Resources3\n \n \n \n \n \n \n \n ·\n 34% Chance of Geologic Discovery (Pg ) on Dunrobin West Jurassic primary target\n \n \n \n \n \n \n \n ·\n Secondary Triassic target at Dunrobin West, which along with the Jurassic can be tested by a single vertical borehole, included in formal resource assessment for the first time with a Pg of 12%\n \n \n \n \n \n \n \n ·\n Dunrobin West dry hole drilling costs to a total depth of 800 metres estimated by the JV to be £8.6 million gross\n \n \n \n \n \n \n \n · \n The Company believes that Dunrobin West is geologically analogous to the Beatrice field, which produced 164 mmboe\n \n \n \n \n \n \n \n ·\n Success at Dunrobin West would significantly de-risk Dunrobin Central & East and Golspie analogous prospects\n \n \n \n \n \n \n \n ·\n Reabold's acquisition of, inter alia,...