Keddington
(Nautical 10%)

Nautical through its wholly owned subsidiary Alba Resources Limited, acquired a 10% interest in Onshore Licence PEDL005 (Remainder) which contains the producing Keddington oil field and North Somercotes gas prospect, both adjacent to the Saltfleetby gas field.

The Keddington-4z well was drilled as a re-entry and horizontal sidetrack from the Keddington-1z “donor” well, during April 2011 and encountered a total of 394 feet of the primary reservoir Unit 1 Sandstone and 213 feet of Unit 2. The well is now on production alongside the Keddington-3z well with an average total field production of around 130 bopd.

The field is also producing significant quantities of gas with the average daily rate of approximately 500,000 cubic feet. The high gas rates are constraining the oil production and the operator is investigating options to generate electricity which will utilise the produced gas and allow higher oil production.