The preliminary gross resources from well 16/5-8s, approximately 14 km south of the Edvard Grieg field in the Norwegian North Sea, are estimated to be between 1 and 10 million boe.
Presentations will take place in Luanda, Angola, Houston, US, London, UK, and Dubai, United Arab Emirates, during September.
Completion of the acquisition and the merger plan has been registered with the Norwegian Register of Business Enterprises.
The well encountered 55 m of net oil pay which supports a recoverable oil resource estimate which exceeds Tullow’s pre-drill forecast.
The Barryroe oil accumulation lies in approximately 100 m water depth in the North Celtic Sea Basin and is located approximately 50 km off the south coast of Ireland.
iSEISMIC plans to use ION’s 4Sea ocean bottom acquisition and imaging technology for seabed surveys.