VALHALLA OIL AND GAS LIMITED
Award of UK Onshore 13th Round blocks
Valhalla Oil and Gas Limited has been awarded a 6-year exploration licence in the UK Onshore 13th Round, covering 9 blocks or part blocks in North Lincolnshire. Valhalla has a 50% interest in the licence which will be operated by Europa Oil & Gas, with the remaining 50% interest.
The award lies in the Humber Basin, approximately 50klms north-northeast of Valhalla’s existing licence interest in PEDL150. The Humber Basin contains producing oil and gas fields, at Crosby Warren and Saltfleetby. The licence covers an area of around 600 sq.klms and contains 9 currently identified leads and prospects with a combined mid-range prospective resource of 50 million barrels recoverable, according to the operators estimate.
This award is a significant addition to Valhalla’s licence portfolio. We have acquired the rights to a largely underexplored prospective area in a proven petroliferous basin.