Commencement of Drilling Operations on Barbarossa Gas Appraisal Well
Posted on February 29, 2008 – 6:11 pm | by oilandgaspress.com
EnCore Oil plc (LSE: EO.) is pleased to announce that drilling operations on the Barbarossa appraisal well on Southern North Sea block 47/9c have commenced.
Barbarossa was last drilled by the Gas Council in 1982 when well 47/9b-4 encountered a 113 foot thick gas bearing Rotliegend age reservoir. This well tested at a maximum rate of only 500 cubic feet per day. However recent reinterpretation concluded that the well bore was probably severely damaged while drilling and this restricted the test rates.
The Barbarossa appraisal well comprises a near vertical pilot well to confirm the presence of the reservoir quality sands encountered in 47/9b-4. If the pilot well is successful, a high angle sidetrack will be drilled within the Rotliegend interval. Subject to successful testing, the well will be completed as a development well.
The partners plan that the Barbarossa discovery would be developed as a single well subsea tieback jointly with the nearby Channon discovery.
The well is being operated by Venture Production plc, which holds a 90 per cent. interest in the licence. EnCore has a 10 per cent. interest in the licence, five per cent. of which is subject to a buy-back. EnCore’s costs will be carried on the initial well bore and testing programme. On the high angle development section of the well bore, EnCore will contribute at its working interest level of 10 per cent.
Graham Doré B.Sc. (Hons.) in Geology and M.Sc. in Petroleum Geology and EnCore’s Exploration Director, who has over 20 years’ experience in the oil exploration and production industry, has reviewed and approved the technical information contained in this announcement.
Click here for a pdf copy of the announcement
For further information, please contact:
EnCore Oil plc www.encoreoil.co.uk
Alan Booth, Chief Executive Officer +44 (0)20 7224 4546
Eugene Whyms, Chief Financial Officer
Aquila Financial Limited www.aquila-financial.com
Peter Reilly +44 (0) 118 979 4100
Yvonne Fraser
Hanson Westhouse Limited
Tim Feather +44 (0)113 246 2610
KBC Peel Hunt
Jonathan Marren +44 (0)20 7418 8900
Notes to Editors:
EnCore Oil plc (LSE:EO.) is an oil and gas exploration and production (E&P) company quoted on AIM.
At EnCore, it is not the Company’s aim to build a full cycle E&P company. The principal strategy is to create shareholder value through the successful exploration and appraisal of prospects and discoveries. The Company will seek to monetise or exchange the asset at the appropriate point in its life cycle and return value directly to shareholders wherever possible.
EnCore has an experienced and proven management team, a number of whom were responsible for the discovery of the Buzzard field in the UK North Sea, which currently produces 10 per cent. of the UK’s total oil production.
All EnCore’s commercial and material technical evaluations are undertaken in-house by the EnCore team. This brings both continuity to the management and development of the assets and an ownership that is vital to unearth the best and most creative new ideas and opportunities.
EnCore currently holds a balanced portfolio of interests in licences both on and offshore, primarily focused on the UKCS. EnCore expects to participate in the drilling of nine wells before the end of 2008.
www.encoreoil.co.uk
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Tags: Barbarossa Gas, drilling, Operations
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