Arenite holds blocks 41/24 (Offshore) and blocks SE99a & TA09 (Onshore) in the Cleveland Basin

These blocks contain the Cloughton & Maxwell gasfields - two high value assets the company is looking to appraise and develop

Cleveland Basin Acreage

Onshore & Offshore Licence Applications Pending

Arenite assets were awarded acreage in the 28th Offshore Round and the 14th Onshore Round in the Cleveland Basin. Arenite has amassed a prolific database and completed many proprietary studies in the region.

Arenite identified two proven gasfields from previous exploration drilling results. Offshore the Maxwell gasfield stretches over three blocks and has stacked gas pay in Bunter, Plattendolomit, Hauptdolomit & Carboniferous strata

Onshore the Cloughton-1 gas discovery is flowed gas on test and has over 500 Bcf gas-in place.

For further information:

PEDL348 Cloughton gasfield North Yorkshire

Licence P2304 Block 41/24

Block 41/24 Cleveland Basin

28th Round Award

On 27 July 2015 the Oil and Gas Authority announced the conditional award of a Promote Licence over Block 41/24 in the Southern North Sea to a joint venture comprising Arenite Petroleum Limited (50%) and Europa Oil & Gas Limited (50%). The Licence was awarded as part of the 28th Seaward Licensing Round in the Second Tranche of Offers. The Promote Licence term is for two years and upon demonstration of financial, technical and environmental capacity and a commitment to drill (or similar), the licence may be converted into a Traditional licence with a duration of up to 26 years.

Offshore Northumberland Coalfield

Blocks 34/28 & 34/29
For over a century coal was mined in this area, including offshore. Huge reserves of untapped coal remain and potential exists to drill directionally from onshore to extract this gas. The Carboniferous contains gas-prone source rock which extends across the licensed acreage.

In 2015 Arenite reassessed the potential in this area in the light of the depressed commodity pricing and has discussed options with the Oil & Gas Authority (OGA). Five-Quarter Energy Limited was awarded a 3-year extension to an Underground Coal Gasification (UCG) licence in early 2014 by the Coal Authority. Further conventional hydrocarbon exploration may occur from 2017. Arenite Petroleum Limited holds an extensive database for this offshore acreage.

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