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January 27, 2016 Press Release

 

4Gen Energy UK Presents North Sea Energy Projects That Have Attractive Economics at Today's Prices

UK company will showcase two North Sea projects at the NAPE conference in Houston, Texas on February 11.  Read More >

 


 

October 29, 2015 Press Release

 

4Gen/GTO Announce Launch of “The DeLorean Complex” Opportunity in Central North Sea

Presenting a large oil project with robust economics at today’s prices.

London, England – October 29, 2015

 

4Gen Energy UK Ltd and GTO Limited are pleased to announce the official launch of a Central North Sea oil exploration opportunity with over 130 million barrels of prospective recoverable resource potential (35+ API expected) and an innovative development plan that has the potential to reduce Opex to $8.50 per barrel.

 

Four prospects comprising ”The DeLorean Complex” have been mapped, utilizing reprocessed 3D with a combined resource potential exceeding 130 MMbbl. The mapping was based on extensive impedance/amplitude work and audited by an engineering firm that confirmed the features to be an analogue to the adjacent redeveloped Argyll field (now known as the Alma field). 

 

4Gen/GTO engaged an engineering firm to design an innovative development plan that was used in the Argyll field. The significance of which reduces Opex to $8.50 per barrel.

 

“We are excited to be working on an innovative oil development concept that has the potential to significantly reduce operating costs and yielding positive economics at current oil prices,” said Doug Colkin, Managing Director of 4Gen Energy.

 

Notes:

About 4Gen Energy: 4Gen Energy is a privately owned oil and gas company that has assembled a UK North Sea platform of executives, advisors and joint venture partnerships with exceptional, proven North Sea subsurface expertise.  4Gen’s strategy is focused on organically developing and testing significant oil & gas opportunities that are economically viable in today’s price environment.

 

About GTO Limited: GTO Limited is a privately owned international oil and gas company, comprising of a team of six former senior E&P management.  Several of the executives gained extensive subsurface and development knowledge in the adjacent former Argyll area fields (Duncan, Innes, Alma & Galia), while working at Hamilton Bros. GTO’s technical team were involved in  the discovery, appraisal and development of numerous oil and gas fields in the North Sea.

 

Note the former Argyll Field has just restarted (October 2015) production through the re-development project of Alma/Galia fields by EnQuest. An initial reserve of 26mmbo is expected to be produced in this re-development.

 

Contacts:

 

For more information, please contact:

 

4Gen Energy UK Ltd– Doug Colkin (Managing Director) – Mob: +44 (0) 7774 411441, Email: dcolkin@4genenergy.com, Website: www.4genenergy.com

 

GTO Limited – Mike Jones (Director) – Mob: +44 (0) 7710 594821, Email: mike.jones@mjerg.co.uk, Website: http://gtolimited.co.uk

 

Forward looking statements: This announcement may contain certain forward-looking statements with respect to 4Gen’s and GTO’s expectation and plans, strategy, management's and director’s objectives, future performance, production, reserves, costs, revenues and other trend information.  These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may occur in the future.  There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements and forecasts.   The statements have been made with reference to forecast price changes, economic conditions and the current regulatory environment.  Nothing in this presentation should be construed as a profit forecast.  Past share performance cannot be relied on as a guide to future performance.

 


 

November 12, 2014 Press Release

 

4 Gen Energy UK Limited, a private independent oil and gas exploration and appraisal company focused on the UK Continental Shelf region of the North Sea ("UKCS"), is pleased to announce that it has been provisionally awarded five whole blocks and one part block under the UK 28th Licensing Round, the results of which were announced on the 6th of November, 2014 by the Department of Energy and Climate Change ("DECC"). 4 Gen has partnered in this highly successful application with the independent private UK company GTO on 50/50 basis.  Read More