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HEA appointed advisor for Deltic Energy's Syros Prospect in the Central North Sea

HEA appointed advisor for Deltic Energy's Syros Prospect in the Central North Sea

Thursday 3rd November 2022
Holt Energy Advisors Ltd

LONDON, November 3rd. Holt Energy Advisors Ltd ("HEA") have been appointed by Deltic Energy Plc ("Deltic Energy") as farmdown advisor for their P2542 licence in the Central North Sea containing the Syros propsect.

Deltic Energy Plc acquired 100% of Licence P.2542 including the Syros prospect in the 32nd Licensing Round with a 4 year phase A term ending in December 2024. The licence is situated close to the Montrose-Arbroath (Mon-Arb) hub and represents a material ILEX opportunity with an estimated P50 recoverable resources estimate of 25 mmboe with a high geological chance of success.

Syros is a tilted-fault block trap with fault juxtaposition of Fulmar sands onto the Mon-Arb High in the Central North Sea area of the UK Continental Shelf with the Smith Bank Formation providing bottom and lateral seal from Godwin and Shaw. The reservoir target is the Late Jurassic (Oxfordian-Kimmeridgian) Fulmar, shoreface sandstones with secondary targets including the Middle Jurassic Pentland formation and the Triassic Skagerrak formation.

Deltic are offering a significant equity position in return for a work programme that includes a commitment to drill Syros in the short term.

For further information on this opportunity visit our website here or email the HEA team at enquiries@holtenergyadvisors.com

Holt Energy Advisors is a boutique energy advisory company delivering expert commercial consulting and transaction advisory solutions to the oil and gas and renewables sectors.

Holt Energy Advisors Ltd
202 Davenport House
Canary Wharf, London
E14 9RP, United Kingdom

Tel: +44 (0) 203 916 0101
Fax: +44 (0) 844 357 6895
Email: enquiries@holtenergyadvisors.com