UK East Midlands
Onshore Production, Development and Exploration
Update: Blackland Park Exploration Limited (‘Blackland’) is an independent oil and gas company which owns several exploration and production assets in the East Midlands, onshore England (UK), both in its own right and through two wholly-owned subsidiaries, AltaQuest Energy Corp (UK) Limited (‘AltaQuest’) and Courage Energy (UK) Ltd (‘Courage’). The assets, covering a total 250 km2, are all located in the vicinity of the Gainsborough Trough of the East Midlands Basin.
The owners of Blackland would now like to divest all of their assets through a corporate sale for cash including the combined producing and undeveloped reserves attributed to the assets it currently owns, including its subsidiaries. These assets include Blackland’s own production from the Whisby field, in which the #6 appraisal well drilled successfully and defined new reserves in Q1 2016. Also, AltaQuest’s shut in reserves at Newton oil field, with its appraisal upside, and Courage’s undeveloped Reepham oil field. The opportunity would also include all of the prospective exploration upside in the combined acreage, plus the booked accumulated tax losses associated with the three companies which can be used to offset future tax liability from other E&P assets elsewhere onshore UK if appropriate.