We are listed on AIM and are one of the leading onshore oil and gas companies in the UK.
We currently have approximately 160 staff with a track record of delivering resources. We have our own well services division including: 2 work over rigs, 4 hot water flush rigs, 1 hot oil flush rig, and in addition 8 road tanker tractor units . In addition we have part ownership of Larchford the drilling contractor and 50% of a rig Joint Venture with Meehan.
A large part of our resource base is in the form of Coal Bed Methane (CBM). CBM is just like any other form of natural gas. Its extraction involves our teams drilling a well into virgin coal seams and pumping out water. This process lowers the pressure in the immediate area, releasing the gas that is trapped in the coal to flow to the surface.
We have been successfully piloting production from CBM at our Doe Green site near Warrington for several years.
We have licences to extract hydrocarbons across the north of Wales and the north of England covering an area of approximately 1,252km² (approximately 309,400 acres). Additionally we own nine Petroleum Exploration and Development Licences (PEDLs),two methane drainage licences and three offshore blocks under one Seaward Petroleum Production Licence. Our areas of operation are Cheshire, Yorkshire, greater Manchester, Staffordshire and the North Wales coast and we are the operator and sole owner of each of our licences.
Independent analysis by leading reservoir engineers, Senergy, has confirmed that we have an estimated net Contingent Recoverable Resource to 1,811Bcf of gas (2C)
We also have the potential to explore shale. Shale involves extracting gas from rock which contains vast quantities of natural gas. We have identified a significant potential shale resource within our acreage which is estimated (on an unrisked basis) to comprise up to 4.5 trillion cubic feet of gas initially in place. Although we intend to conduct more work to better understand the potential of our shale holding, we have no immediate plans to develop it.