Successful Simwell UK Licence Awards.

Comtrack Venture's subsidiary Simwell Resources have a 10% interest in the three licences P2300, P2329 & P2427 covering the new Zechstein Reefal and Carboniferous plays in Quad 36 and 37. The remaining interest in the licences is held by Ardent Oil and Horizon Energy.

As mentioned in press release dated 21st January 2019, Simwell made applications in the 31st Licensing Round for additional acreage adjoining the above licences to more comprehensively cover this play.

Simwell is pleased to announce their application was successful and the authorities (OGA) have awarded Simwell 50% interest in Blocks 37/28a, 37/29a, 37/30b, 43/3a, 43/4a (P2486). This represents circa 600 sq km of acreage. The other interest holders are Ardent Oil and Horizon Exploration. The blocks in this award are included in the farm out previously done with Horizon Exploration and once the license has been issued Simwell will assign an interest to Horizon and reduce its interest to 10%.