Talon Petroleum makes second North Sea acquisition
31 January, 2019
Australian company Talon Petroleum has agreed to buy 100% of EnCounter Oil for an undisclosed amount and subject to shareholder approval.
Hertfordshire-based EnCounter Oil’s portfolio includes the wholly-owned Skymoos prospect located in the outer Moray Firth, thought to hold up to 100m barrels of oil equivalent, as well as the Rocket prospect in the Central Graben Area, estimated to contain approximately 27m barrels.
In October 2018, Talon made its first entry into the North Sea market, taking a 10% stake in the Curlew-A discovery from Corallian Energy.
Curlew-A is believed to hold up to 45m barrels of oil equivalent.
Up until its recent North Sea purchases the Australian outfit has been focused on developing Texas unconventionals.