update Enegi is
pleased
to announce that the Company
has been offered a production licence on Block
21/28b
, in the UK
Central North Sea,
by the Department of Energy and Climate Change
.
Block
21/28b
contains two known discoveries
named Crinan & Dandy, which l
ie
adjacent to the Fyne
Project
A
rea
(“Fyne”)
in water depths of c. 89m
.
Crin
an
(
also known as
Area 4) is located
c.
2km from
Fyne
, whilst Dandy is located c. 5km from Fyne.
Dandy has been appraised, confirmi
ng oil presence,
whilst both
discoveries
lie
within the Fyne Trend and share the
same
Tay Formation Sandstone reservoir
with Fyne.
The
Company intends to leverage
existing knowledge gained through investment in Fyne
’s
S
elf
-
I
nstalling
F
loating
T
ower
(“SIFT”)
solution
to develop these
assets
.
Preliminary work
carried out
by the Company indicates that
a
combined
6MMBO
could be
recoverable
in the
P50
case
and
could be
d
eveloped through a tie
-
in to Fyne
.
Upon final award
Enegi
(Operator) will hold
a
50%
working interest
in this
licenc
e
, with par