Terrain Energy was set up in October 2009 to develop a portfolio of oil and gas interests based onshore in politically stable countries, with current focus on the UK and Germany. The company's balanced portfolio of assets includes currently oil producing, scheduled for near term production, rejuvenation and exploration projects. Terrain is only pursuing conventional oil and gas reserves and has no plans to participate in unconventional reserves such as shale oil and gas.
Terrain Energy is 100% owned by funds under the management or advice of Calculus Capital Limited, a UK based private equity company.
The company's initial interests, a portfolio of four oil and gas licences in the East Midlands, were acquired from AIM quoted company Egdon Resources. Since this initial purchase, Terrain Energy has added to its portfolio by farming-in to the Larne-Lough Neagh licence in Northern Ireland in March 2011, and Burton on the Wolds in February 2012. More recently Terrain acquired interests in three producing fields: Brockham in Surrey, Lidsey in West Sussex and Whisby in the East Midlands. It has also purchased two exploration licences in Bavaria, Bruckmuhl (now Egmating) and Starnberger See. As part of a group, Terrain was awarded the P2123 licence in the 27th Offshore Licencing Round and the PEDL339 licence containing the Louth prospect which is adjacent to Keddington in the East Midlands.
In December 2016 the company farmed out 10% of its interest in Brockham and consequently will have no financial exposure to the drilling activity sheculed for January 2017.
Terrain Energy currently owns interests in a balanced portfolio of eight onshore licences and one offshore licence.
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Terrain Energy is seeking to further develop its balanced portfolio of interests with the emphasis on production orientated assets. A limited interest in exploration assets (all conventional oil and gas reserves) provides additional medium term upside.