9 September 2024 | Hartshead Resources NL (ASX:HHR) ("Hartshead" or "the Company") is pleased to announce that it has secured 10 blocks, across six new licenses, in the UK’s 33rd Licensing Round. Three of the licenses have been fully executed, with the three that remain awaiting final approval by the North Sea Transition Authority (NSTA).
Highlights:
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Licenses Secured: Hartshead has been awarded six licenses, covering 10 offshore blocks in the UK, with three licenses fully executed and three currently awaiting execution.
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Resource Base Expanding: The additional licenses bring Hartshead’s net reserves and resources to a combined 1.5 trillion cubic feet (Tcf) of gas (2P Reserves, 2C Contingent, and 2U Prospective Resources).
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Strategic Location: Five of the licenses, covering nine blocks, are located in the Southern Gas Basin, while two licenses, covering three blocks, are adjacent to the Company’s existing P2607 license.
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Gas Potential: The newly acquired licenses contain discovered hydrocarbons, providing the opportunity for redevelopment, development, and appraisal activities. In total, Hartshead gains an additional 627 billion cubic feet (Bcf) of 2C Contingent Resources and 560 Bcf of 2U Prospective Resources.
Chris Lewis, CEO of Hartshead Resources, commented: “Hartshead is now a significant acreage holder in the Southern North Sea and additionally has a single License and acreage in a new area of interest, the East Irish Sea. The number and variety of high quality resource opportunities now present in our portfolio is both exciting and encouraging. I look forward to seeing the results of the team’s work on the new portfolio over the coming months and being able to share this with shareholders.”
The newly secured blocks are strategically aligned with Hartshead’s existing assets, allowing the Company to leverage its expertise in gas field redevelopment and exploration.
Christopher Lewis
Chief Executive Officer
[email protected]
Jane Morgan
Investor and Media Relations
[email protected]
About us:
About Hartshead Resources NL:
ASX-listed Hartshead Resources NL is focussed on building a financially, technically and environmentally responsible European Energy business.
Hartshead’s goal is to secure and invest in projects where resources can be extracted and delivered to meet Europe’s growing energy demand while supporting the transition to a low carbon future.
In progressing this strategy Hartshead is focused on the development of Production Seaward License P2607 (60% owned RockRose Energy/40% Hartshead), comprising five blocks which contain four existing gas fields in the UK Southern Gas Basin.
Hartshead brings together a highly experienced oil and gas team with specialised knowledge covering subsurface, engineering, commercial, QHSE and capital markets with the required skill sets needed to deliver oil and gas upstream projects successfully and safely.
Contact details:
Jane Morgan
Jane Morgan Management
Investor and Media Relations
[email protected]
