In 2015 Simwell Resources Limited farmed into UK 28th Round Promote Licence P2300 (37/26 & 37/27), acquiring a 40% interest. Ardent (50%) are Licence Administrator and Comtrack (UK) Ltd hold the remaining 10%.
Simwell has undertaken a technical re-evaluation which has mapped large dip and fault closed Carboniferous leads in the Scremerston and Fell Sandstones, as well as a large, thick Zechstein Z2 Hauptdolomit platform play, analogous to producing fields in the Netherlands, Germany and Poland.
In 2017 Simwell was additionally awarded Licence P2329 (50%) as an Innovate Licence with Ardent as Licence Administrator. This large acreage tract of 7 blocks and part-blocks adds significantly to Simwell’s acreage position in both the Zechstein Z2 and the deeper Carboniferous play fairways.
In 2018 Simwell was further awarded the adjacent Licence P2427 (43/2 part) in the 30th Round.
In 2019, Simwell agreed a farmout to Horizon Energy over all 3 licences, where Horizon will fund a regional 3D seismic survey over the Zechstein play. Simwell will receive 667 sq km of the 3D seismic survey covering its licenses. In return for a full carry of the 3D, and alll future costs of the license up to drilling Simwell will retain a 10% equity interest.
Additional acreage over licence P2486, awarded in June 2019 through an application in the 31st Licensing Round, will also be part of the farm-out to Horizon. Simwell's retained interest will similarly be 10% in this licence.