April 12, 2011, Cirrus Energy Corporation has been aquired by Oranje-Nassau Energy B.V. www.onebv.com
Please refer to the onebv.com web site.
Content on this Cirrus Energy web site will not reflect the current status of the company or operations and is available for historical reference only.
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Our current focus is on accessing and developing upstream oil and gas opportunities with particular emphasis on the Netherlands and UK sectors of the North Sea. Cirrus now holds an extensive North Sea portfolio of both exploration and development interests in a total of thirteen offshore blocks in the Dutch sector and eight non-operated exploration licences in the UK sector. Cirrus operates twelve of these blocks in the Netherlands. First gas production in the Netherlands was achieved with start-up of the M7-A Field in September 2009, followed shortly thereafter by the L8-D Field which commenced production in October 2009. These assets provide Cirrus with a growing cash flow base plus exciting exploration and development opportunities within its extensive Dutch and UK portfolios.
Formerly Cirrus traded on the TSX Venture Exchange under the symbol “CYR”
Trading has been halted and CYR will be delisted.
Announcement
On April 12, 2011, Oranje-Nassau Energie B.V. (“ONE”), the Netherlands-based privately owned oil and gas investment company and Cirrus Energy Corporation (“Cirrus”) (TSX-V: CYR) announced the successful completion of the previously announced statutory plan of arrangement.
Achievements
- Cirrus has built a substantial portfolio of exploration and development assets in the Dutch sector of the prolific southern North Sea gas basin and in the UK sector of the central and northern North Sea.
- In the Netherlands, Cirrus currently holds operated interests in eleven blocks which contain two producing gas fields, M7-A and L8-D and one undeveloped gas field, M1-A. In addition, Cirrus holds a non-operated interest in a licence containing the undeveloped A15-A gas field.
- Development of the M7-A gas field (Cirrus operated, 42.75%) has been completed and production commenced on September 12, 2009.
- The L8-D Field (Cirrus operated, 25.5%) was successfully appraised by well L11-13 (later renamed as L11b-A06) which tested over 30 MMscf/d in February 2009. The L11b-A06 well commenced production on October 4, 2009. Further development of this substantial pool is under active consideration.
- Total gross area under licence in the Netherlands is 575,500 acres and in the UK is 477,200 acres.
- Independent reserve auditors have estimated Cirrus' total proved + probable reserves as 9.7 MMboe (GLJ, August 31, 2009).