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Projects
The blocks awarded to the Company in the 13th Round are Blocks SK63, SK64 (see note 1 below), SK73, SK74, SK83 and SK84, comprising a total of 150,000 acres of 100% working interest in the rights.
The company is focusing on 6 drill ready oil prospects based on interpretation of previous oil shows, drilling, technical data and existing seismic. The wells are expected to encounter light sweet paraffinic oil at depths of less than 1100m. Production will be trucked to refineries less than 100km away. Each successful well will lead to two or more step out wells into the same pool. Each of the prospects has secondary targets. Each pool has analogues which will become more prospective with initial drilling success.
Initial Prospects - Primary Target:
1) Harlequin - Fractured Igneous Sill
2) Belvoir - Ashover Sand
3) Cropwell Butler - Kinderscout Sand
4) Bingham - Carb Limestone
5) Sedgebrook - Fractured Basement
6) Granby - Carb Limestone
Land Notes
Blocks SK63 and SK64 are jointly awarded with Alkane Energy Plc., a company whose focus is mine gas recovery, coal bed methane extraction and electrical generation. Newton and Alkane have agreed in principle on a Joint Venture Agreement which will see 100% of the rights to the coal seams go to Alkane and 100% of the remaining strata go to Newton, with Newton as the operator of these two blocks. There are no conflicts over target zones or product extraction and each company will receive the rights which they sought in the license applications. Newton has no plans for mine gas or coal bed methane extraction and therefore effectively has a 100% working interest in these licenses.
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