Nautical Petroleum Spins Bit at Carnaby Well

Nautical Petroleum plc announced that the Carnaby exploration well 28/9-5 in Central North Sea Block 28/9 was spudded at 05:45 hours on Friday, May 11, 2012.

The well is being drilled using the Sedco 711 (mid-water semisub) and is being managed by Applied Drilling Technology International (ADTI). The well is expected to take approximately 25 days, subject to weather and operational requirements.

The well is located immediately to the west of the Burgman discovery in the Greater Catcher Area. The objective of the well is to establish if hydrocarbons are present in the Tay and Cromarty sands.

Nautical has a non-operated 15 percent equity interest in Central North Sea block 28/9.

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