News

January 29, 2009

Midmar Energy Seeks International Production Opportunities

At a time when many oil juniors are, by necessity, tightening their purse strings and curtailing operations, onshore development specialist Midmar Energy is instead looking to take the business up a gear and expand internationally. The privately-held company, which produces just over 100 barrels per day from the Brockham and Lidsey fields in southern England, is already seeking opportunities in Iraq through its 32.67 per cent interest in the Mesopotamia Petroleum Company. Now it is looking at other opportunities, outside the Middle East, where it can put its onshore development and production expertise to good use.

This change in strategy may lead to the disposal of the producing onshore fields.  “These assets are extremely important to us because they generate cash flow but if anyone made a nice offer for them assets then we would take it,” managing director Tom Redman told oilbarrel.com, adding that the company has already received a number of speculative approaches regarding the Brockham and Lidsey fields. 

These are small assets but would make a nice starter pack for a company...