Memo
To: Marcus Peters, Exploration Analyst.
From: James Wright, VP Exploration.
Subject: Irish Sea Option
Priority: HIGH.
This Memo contains market sensitive information and is to be treated as CONFIDENTIAL.
In line with the company’s strategic intent to diversify our current operations beyond N. America, The Netherlands, Nigeria and Angola the Board has requested a briefing on Offshore Ireland. In particular there is interest in a Farm-In option to a License held there.
Just to give you some background, we have had sight of some encouraging 3D seismic intimating significant hydrocarbon resource (confirmed by a separate competent persons report). The existing license holder and their partners have supplied us with an Investment Appraisal Document. However, the Board has requested that we prepare our own Appraisal Documents and run the data through our own Capital Approval Process.
Whilst I have not as yet been able to meet with the Chairman to confirm the exact documentation required we can at this stage assume that we will, at the very least, need to start with a a briefing document that provides Historical Exploration and Production Data for Ireland.
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