Norway-based independent Revus on Wednesday chronicled for investors a drilling program replete with risk and reward scenarios from Norway to the United Kingdom, with at least two fields conspicuous for risk or reward.

The company took the occasion of its launch of a new fundraising drive and the report of a small net loss to report on the meaning of the coming 20 wells planned in the North Sea, all but two of which have rigs for drilling.

Fresh from raising $52 million for selling a stake in Yme, the company has placed $73 million in new shares, and will seek $100 million in lending.

At stake is a wealth of thoroughly worked out drilling prospects like the Jordbær (Strawberry) well now underway, where the main risk is the two wells are needed to prove a couple of “compartments”. BG is operating the drilling, but Revus has 20 percent in a prospect believed to have 2 trillion cubic feet of gas.

At Torphins, due to be drilled in June, the chance of success is 50 percent. The potential reward at the Lundini-operated site is said to be 40 million barrels of oil.

Cladhan — a 25-percent-chance-success prospect in the U.K. North Sea — offers 130 MMbbls for operator Sterling Resources and Revus.

On the development side, the Broom field is still “producing according to plan”, yet production is “not stabilised” after promising gas lift and other efforts. At the host platform, Heather, “topside challenges” will be addresses during three weeks of coming maintenance.

Tags: Revus Energy