Shell U.K. Limited has confirmed it will exercise an exclusive option to farm into Cluff Natural Resources’ Licence P2437, which contains the 90 million boe Selene prospect.
Shell will pay $600,000 for a 50% working interest in the licence. On completion of the deal, it has also indicated its intention to drill an exploration well on Selene at the soonest possible opportunity. The prospect is located approximately 20 kilometres from infrastructure associated with the Shell-operated Barque gas field. Read more…