Namesake: Fox Petroleum has joined the hunt at Anglesey
Fox primed for Anglesey hunt
Fox Petroleum has taken a 33.33% stake in blocks 14/9a and 14/14b, in the Outer Moray Firth area of the UK North Sea, after completing a farm in deal with Granby Oil & Gas and Atlantic Petroleum.
The blocks host the Anglesey prospect, which consists of a series of tilted Jurassic fault blocks sited in about 130 metres of water about 30 kilometres north of Talisman Energy's Claymore field.
As part of the agreement, Fox Petroleum maintains the option to increase its stake from 33.33% up to 60% after completion and appraisal of seismic data.
The data is currently being processed by Fugro, and should take 60 days to complete.
Fox said it hopes to define a drilling location in the third quarter and start drilling in the second half of 2008.