Block 3/27a Hydra (Licence P1203)

Nautical started to drill a well on the Hydra prospect in November 2008. Unfortunately, very poor weather prevented the well from spudding. Due to high standing costs that would have been incurred if the rig had been held until drilling could commence, the Joint Venture demobilised the rig. Your company has been unsuccessful in obtaining a further extension to the licence to drill the well and intends to relinquish the block.