Finder Energy is pleased to announce that it has completed the acquisition of two highly prospective UK North Sea operated licences, P2502 and P2524, from Azinor Catalyst Limited (Azinor).

P2502 is located on the western edge of the East Shetland Basin, Northern North Sea, and covers an area of 424 square kilometres and is 85 km NE of the Shetland islands (see Location Map). The licence holds significant potential in the Upper Jurassic turbidite play with over 1.2 billion barrel oil equivalent identified across eleven mapped leads. Finder currently holds an operated 100% working interest in this licence.

P2524 is located on the southern flank of the South Viking Graben, Central North Sea, and covers an area of 171 square kilometres and is 250 km NE of Aberdeen. The leading prospect on the licence is Barracuda, targeting the same Upper Jurassic reservoir that hosts the nearby prolific T-Block and Brae complex oil fields. In addition to the Barracuda prospect, the licence contains a further three prospects and leads and two small oil and condensate discoveries. Finder currently holds an operated 40% working interest in this licence, with Harbour Energy holding the remaining 60% working interest.

“These two acquisitions build on Finder’s recently announced entry into the North Sea through the 32nd UK Offshore Licensing Round and are in line with our strategy to secure high-quality exploration acreage close to discoveries and infrastructure. We expect to announce further North Sea acquisitions as well as new partnerships in the near future. We are also pleased to announce that Nick Terrell and Henry Morris, former Azinor co-founders and directors, will be joining the Finder team to drive our UK North Sea growth strategy”, said Damon Neaves, CEO of Finder.

About Finder Energy

Finder Energy Pty Ltd is an oil and gas exploration company based in Perth, Western Australia. Established in 2004, we have earned a strong reputation in the industry as an active and successful explorer. Finder is currently one of the most active explorers on the North West Shelf of Australia. In February 2021, Finder announced its entry into the UK North Sea where it hopes to continue its exploration success.

About Azinor Catalyst

Azinor Catalyst, is an independent oil & gas company, focused on the United Kingdom Continental Shelf. Founded in 2014, the company has matured a high value and high materiality UK portfolio through targeted acquisitions and licencing rounds. The company is a qualified UK offshore operator and is focused on generating significant value for its stakeholders through advanced seismic technology and other geotechnical de-risking technologies ahead of drilling oil & gas exploration opportunities. Its exploration portfolio will over time be complemented with production and development opportunities.