Encore: Cladhan Appraisal, Catcher Firmed for 2010
EnCore Oil plc
|Tuesday, February 09, 2010
Encore confirmed plans to spud an appraisal well at Cladhan (UK Northern North Sea blocks 210/29a & 210/30a) using Transocean's semisubmersible J W McLean rig within the period from late May to early July 2010. Cladhan is operated by Sterling Resources.
The well will appraise the southward extension of a stratigraphically trapped 110ft light oil column made during the original discovery in November 2008. Encore aims to gain a better understanding of the extent and thickness of the Upper Jurassic reservoir sands, which, if hydrocarbon bearing and of reasonable thickness, will be tested with a possible sidetrack undertaken.
EnCore has a 16.6% interest in Cladhan and has deemed that the hydrocarbons in place range from sub-commercial to very significant. The expected net cost to EnCore of the well on an untested, non-sidetracked basis is £1.9 million.
Catcher, located in UK Central North Sea block 28/9, is expected to be drilled in late March / early April 2010.
During the period, a seabed survey was completed which determined that the well can be drilled using a heavy duty jackup rig. Since the period end, a Letter of Agreement has been signed for Transocean's GSF Galaxy II jackup rig. Should hydrocarbons be encountered, it is expected that either well testing or sidetracking into the immediately adjacent 'Catcher East' Eocene Tay sand prospect will be undertaken.
Encore operates the block with a 15% interest, and the costs to drill the well are being carried by the company's partners, Premier Oil (uncapped) and Wintershall (capped).
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