PEDL 133

PEDL 133 covers 329 km² in the Midlands Valley in Scotland.  The location is east of Stirling, approximately 40 kilometres northeast of Glasgow and 50 kilometres northwest of Edinburgh.  It covers a large part of the Clackmannan coalfield that was extensively mined in the 19th and 20th centuries and abandoned coal mines are found within and immediately adjacent to the licence area. 

Following the extensive exploration and appraisal work done to-date, and review of technical data, Dart intends to move the Airth project into initial development via a pilot-to-power project followed by full field development. The Airth-12 well will supply gas to a power generator located on-site and connected to the local electricity grid to enable early gas commercialisation in 2Q 2012. The subsequent full field development is envisaged to comprise over 40 wells.  Detailed geological and engineering studies are underway with a view to submit a development plan to the authorities in 2012.On 31 August 2011, Dart entered into a five-year gas sales agreement with SSE Energy, UK's second largest energy supplier.  SSE Energy is the 50% owner of the Scotland Gas Network and the owner and operator of the local gas grid infrastucture that passes through PEDL 133.  First gas sales as part of this GSA is expected to take place on 1 April 2013 and deliver the 2P reserves during the five year term.

Netherland, Sewell and Associates Inc. has estimated 2P reserves of 38.6 Bcf and 3P reserves of 74.4 Bcf as at 31 December 2011.

PEDL 133 also contains shale gas potential in the Black Metals and Lothian Shale zones.  NSAI has estimated gross Gas-in-Place of 0.8 Tcf in the Black Metal Shale and 3.6 Tcf in the Lothian Shale zones. Exploration of these shale zones is in the early stage and Dart intends to deepen an existing CBM well to recover shale cores in 2012.