There are three sketches here, two of which are inverted relative to the sketchbook’s foliation. As Ian Warrell has noted,1 at the bottom right is a view of Peveril Castle above Castleton, looking west along the valley. At the top right is a separate view of a valley with a jagged, rocky skyline, perhaps Cave Dale or another Peak District site near Castleton. For other views of the castle, the village and Peak Cavern, see under folio 1 verso (D22152).
At the outer edge, made with the page turned vertically and separated by a pencil line, is a study of a ship, possibly with another beyond, and a boat on a river or at sea, perhaps on the Thames Estuary, as there are also views from Richmond Hill, west of London (see under folio 89 verso; D22316; Turner Bequest CCXXXIX 88a) or near Newcastle upon Tyne (see under folio 8 recto; D22163). There are similar studies on the verso and inside the back cover (D22322, D41055), and a study of a sailing boat on folio 1 recto (D22151).
Ian Warrell, notes from 1993 and later in Tate catalogue files.