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North Sea Oilers

Lime Petroleum to Acquire 30% in PL338C

Lime Petroleum to Acquire 30% in PL338C

Post Wed Feb 25, 2015 4:52 am

Lime Petroleum has signed an agreement with Lundin Petroleum to acquire a 30% stake in PL338C in the Norwegian North Sea. The deal follows the spudding of an exploration well in the Gemini prospect by the semi-submersible Island Innovator on 15-Feb-2015.

The Gemini prospect is located 10 km from the Edvard Grieg production platform. Lundin has estimated the prospect to contain gross unrisked prospective resources of 93 MMBOE with a chance of geological success of 24%, in Paleocene aged sandstones in a stratigraphic pinch-out trap.

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