Assets
A summary of the Group’s assets follows:
|
ASSET (All are U.S.) |
OPERATOR |
WORKING INTEREST1 (%) |
STATUS | LEASE EXPIRY DATE | LEASE AREA (km2) |
COMMENTS |
| Eugene Island Block 172 Block 183 Block 184 |
Leed Petroleum LLC & McMoRan Oil & Gas LLC2 |
31.10 75 37.5-75 |
Production, Development and Exploration | Held by production3 | 60.70 |
Development drilling programme planned |
| Grand Isle Block 95 Block 100 |
Leed Petroleum LLC |
100 100 |
Development and Exploration | June 2011 | 36.75 |
Development drilling programme planned |
| Main Pass Block 115 |
Leed Petroleum LLC |
100 |
Exploration | March 2013 | 20.21 |
Low risk exploration drilling programme planned |
| Sorrento Field | Leed Petroleum LLC |
100 |
Development and Exploration | February 2010 | 6.31 |
Development & exploration drilling programme planned |
| South Marsh Island Block 5 Block 6 Block 8 |
Leed Petroleum LLC |
100 100 100 |
Exploration | June 2009 July 2013 |
53.20 |
Substantial low risk exploration potential. Drilling planned New lease acquired in MMS Central Gulf Lease Sale #206 |
| Ship Shoal Block 201 Block 205 |
Leed Petroleum LLC |
100 100 |
Exploration | March 2013 June 2009 |
40.46 |
Development & exploration drilling programme planned Exploration drilling programme contingent upon geological & geophysical evaluation being completed |
| West Cameron Block 106 |
Leed Petroleum LLC |
100 |
Exploration | July 2013 | 20.23 |
New lease acquired in MMS Central Gulf Lease Sale #206 |
| East Cameron Block 317 Block 318 |
Medco Energi US LLC |
25 25 |
Production, and Development | Held by production3 | 40.47 |
Currently producing oil and gas from 2 platforms and 5 active wells |
| Main Pass Block 64 Block 65 |
Medco Energi US LLC |
16.1-25.00
25.00 |
Production, Development and Exploration | Held by production3 | 28.43 |
Currently producing oil and gas from 15 active wells |
| Main Pass Block 57 |
Palace Operating Company |
2.34 |
Production and Development | Held by production3 | 10.11 |
Currently producing from 1 active well |
1 Interest – Working interests (WI) are shown and are subject to various royalty and overriding royalty payments. Working interests may vary within a given lease area according to area and or depth. Working interests in all current assets, except East Cameron 317/318 and Main Pass 64/65, are subject to the option right of a third party to acquire up to 25% of the Group’s working interest.
2 Leed is the operator of Eugene Island 183 and the South Half of Eugene Island 184. McMoRan is the operator of Eugene Island 172 and the North Half of Eugene Island 184.
3 Lease expires 180 days after cessation of production.