Kistos PLC Q11-B well spudded (0447T)
22 November 2021 - 6:00PM
UK Regulatory
TIDMKIST
RNS Number : 0447T
Kistos PLC
22 November 2021
Kistos plc
("Kistos" or the "Company")
Q11-B well spudded
Kistos (LSE: KIST), the low carbon intensity energy producer
pursuing a strategy to acquire assets with a role in energy
transition, is pleased to announce that Borr Drilling's
Prospector-1 jack-up drilling rig has spudded the Q11-B appraisal
well (Kistos 60%, Operator).
As previously announced, the Q11-B appraisal well is anticipated
to take a minimum of 6 weeks to drill and test. Kistos intends to
suspend the well for future use in a Q11-B development and has
estimated 2C resources for this accumulation of between 67 - 155
Bcf net. These figures were independently audited by Sproule and
will be refined following review of all the data from the
forthcoming well.
ENDS
Enquiries:
Kistos plc c/o Camarco Tel: 020 3757
Andrew Austin 4983
Panmure Gordon Tel: 020 7886 2500
Nick Lovering / Atholl Tweedie /
James Sinclair-Ford
Berenberg
Emily Morris / Alamgir Ahmed Tel: 020 3207 7800
Camarco Tel: 020 3757 4983
Billy Clegg / James Crothers
Notes to editors
Kistos plc was established to acquire and manage companies in
the energy sector engaging in the energy transition trend. The
Company has acquired Tulip Oil Netherlands B.V., which has a
portfolio of assets, including profitable, highly cash generative
natural gas production, plus appraisal and exploration
opportunities. The Company has 19.5 mmboe of 2P reserves and an
additional 102.1 mmboe of contingent resources.
Kistos is a low carbon producer. The Q10-A gas field in the
Dutch North Sea (60% operated working interest) has recorded a
Scope 1 carbon emissions intensity of 13g CO(2) e/boe since
inception. This compares to an industry average of 22kg CO(2) /boe
for gas extracted from the UK continental shelf. The Q10-A normally
unmanned installation is located approximately 20 km from the Dutch
shore. It is powered sustainably via wind and solar power and is
remotely operated, limiting offshore visits, which are conducted by
boat.
https://kistosplc.com/
Dr Richard Benmore, Non-Executive Director of Kistos with a
Bachelors, Masters and PhD in Geosciences and who has been involved
in the energy industry for more than 37 years, has read and
approved the disclosure in this announcement.
The Company's internal estimates of resources contained in this
announcement were prepared in accordance with the Petroleum
Resource Management System guidelines endorsed by the Society of
Petroleum Engineers, World Petroleum Congress, American Association
of Petroleum Geologists and Society of Petroleum Evaluation
Engineers.
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END
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