Hurricane Bags Two Blocks Off Shetland

Hurricane Energy plc, the UK-based oil and Gas Company focused on hydrocarbon resources in naturally fractured basement reservoirs has been successful in its applications for two further West of Shetland blocks in the Oil and Gas Authority's 28th Offshore Licensing Round Second Tranche of Offers.

Hurricane's applications for blocks 204/30b and 205/26d were based both on the identification of a new basement prospect - provisionally named Warwick - which is considered to be analogous to the Company's Lancaster basement discovery; as well as on the additional prospectivity offered from the extension of the Company's Lincoln prospect into block 204/30b.

Dr Robert Trice, Chief Executive, commented, "While our immediate focus is on achieving an early production system on our Lancaster discovery, Hurricane's longer term strategy remains the delivery of the UK's basement play. I am therefore delighted that Hurricane has been offered these two new blocks in which we have identified material basement prospectivity which is analogous to our substantial Lancaster discovery. Our work commitment on these licences is a 'drill or drop' on either of the identified prospects which, following the implementation of a successful Lancaster early production system, provides Hurricane with the potential for further high value, relatively low-risk, near-field exploration."