Arenite accesses attractive prospects by entering into partnerships with E&P companies with similar geologic and regional focus. Emphasis is on drilling high-quality opportunities that can be developed in the short term.
Arenite high-graded the onshore and offshore Cleveland Basin as gas has been produced from this area for over 75 years and very few drilled wells have failed to find gas. With application of modern technologies gas can be recovered from the strata in the area and with two large discoveries at Cloughton & Maxwell, Arenite is progressing appraisal and development of these strategic resources.
With the anticipated award of high-quality petroleum licences, Arenite’s next step is to secure financing to secure growth in the asset base and fund expanded work programmes and further developments.