According to IndigoPool, Hansa Hydrocarbons Limited is seeking partners for its UK Blocks 48/16a (Licence P1695, Hansa 100%) and 48/16b (Licence P898, Hansa 100%), which contain the 85 bcf Thoresby Field.
Hansa is drilling a low risk appraisal well in Q3 2010 in the east of the field with the objective of proving up commerciality. Dry hole cost for the well is budgeted at £8MM with a DST upon success a further £4.5MM. In exchange for the Interests, the successful party will pay a promoted share of the appraisal well.
The field has been delineated by two wells, 48/16b-2 drilled in 2002 and 48/16b-3z drilled in early 2009. Both wells encountered gas bearing Leman Sandstones. In November 2009 Hansa embarked on an extensive sub-surface work programme to address the remaining critical issues prior to development. This has included the acquisition of a high resolution 2D survey, seismic reprocessing (anisotropic PSDM) and the construction of static and dynamic reservoir models. This work has demonstrated a high level of confidence in the planned appraisal well proving up commercial reserves from a mean GIP of 200 bcf and that a conventional two well development will recover 85 bcf in the base case. The upside case delivers reserves of 126 bcf from three wells.
The development of the Thoresby Field is centred on the Block 48/16b in which Hansa holds a 100% equity interest. Conceptual engineering studies have been conducted which have led to a preferred development scheme and export route. In the event of a successful appraisal well, first gas is planned for Q4 2012 at an initial rate of 60 mmscf/d. Negotiations for a preferred offtake route are well advanced and a site and route survey for acquisition in May has recently been awarded.
Hansa Hydrocarbons is an E&P company focused on the prolific gas basin which extends cross the Southern North Sea to onshore Northern Europe, concentrating on the development of appraisal opportunities. The company was launched in July 2008 with a $100 million equity commitment from the private equity firm, Avista Capital Partners. Hansa Hydrocarbons has built a portfolio of operated and non-operated projects in the UK and German Southern North Sea and continues to seek further opportunities to grow the portfolio through acquisition and licence awards.