Cavendish Research, page-59

Found this document over the weekend @sergeant which lays out the terms and phases of the Innovate Seaward Production Licenses.

https://www.nstauthority.co.uk/media/8177/nsta-initial-term-phase-transition-guidance-final-may-2022-v3.pdf

There are three terms
- Initial Term for carrying out the Exploration Work Programme
- Second Term for appraisal and obtaining Development and Production Consent (including the submission of a Field Development
Plan)
- Third Term for development and production

Within the Initial Term there are 3 phases,
A is a period for carrying out geotechnical and other studies, and obtaining and/or reprocessing geophysical data;
B is a period for undertaking new shoot seismic surveys and acquiring other geophysical data; and
C is for drilling a well

When HHR was awarded P2607 in the 31st Round it was awarded at Phase A work programme. HHR are pretty much in Phase 2 having submitted a FDP. They may have a few things to tidy up before they exit Term 1 fully?

Getting that FDP will hopefully push HHR into the Third Term.