• Hartshead was successful in winning Ten (10) Blocks, across Six (6) Licences in 33rd
Licensing Round
• Letter of offer and License documentation received for the six (6) new Licenses
o Three (3) of the Licenses now fully executed and awarded
o Three (3) Licenses awaiting execution by the UK oil and gas regulator (NSTA)
• Five (5) Licenses consisting of 9 blocks are situated in the Southern gas basin
• Two (2) Licenses consisting of 3 blocks are adjacent to the existing P2607 Licence
• All blocks contain either gas field re-developments or undeveloped gas fields
• Total additional Contingent & Prospective Resources of 1,187 Bcf (2C + 2U) net to
Hartshead
• In aggregate the new Licence awards combined with the existing P2607 Licence, see
Hartshead with a net interest of `1.5 Tcf of Reserves and Contingent and Prospective
Resources
Hartshead Resources NL (Hartshead, HHR or the Company) is pleased to provide an update
on the results of the 33rd Licensing Round Applications. The Company has received from the
North Sea transition Authority (NSTA), as the regulatory body for oil and gas exploration in
the UK, Letters of offer and License documentation covering six (6) new oil and gas Licenses
which cover ten (10) offshore Blocks. Three (3) of these Licenses have now been fully
executed and formally awarded to Hartshead.
These Licenses all contain discovered hydrocarbons and present a range of re-development,
development and appraisal opportunities. Preliminary details of the blocks and Licence
commitments are below.
In aggregate this will be an additional 627Bcf 2C Contingent Resources and 560 Bcf 2U
Prospective Resources, net to Hartshead. Following the award of these new Licenses, total
net reserves and resources will be:
Prospective resources are estimated quantities of petroleum that may potentially be
recovered by the application of a future development project(s) and relate to undiscovered
accumulations. These prospective resources estimates have both an associated risk of
discovery and a risk of development. Further exploration appraisal and evaluation is required
to determine the existence of a significant quantity of potentially moveable hydrocarbons.
Chris Lewis, Hartshead CEO, 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 Board of Directors of Hartshead Resources NL authorised this announcement to be given to ASX.
