Drilling Commenced at Markwells Wood
Northern announced that the Markwells Wood -1 well was spudded at 15:00hrs on November 21, 2010. The location is between the Horndean and Singleton producing oil fields onshore UK and is assessed to be an extension of the former. The final measured depth will be 6009 ft (1831m) at a true vertical depth of 4528 ft (1380m).
The well will test a target with a mean potential independently assessed at 35.0 million barrels of oil in place, with an upside potential of 61.4 million barrels with a ten percent probability. A further announcement will be made once drilling is completed, or as appropriate.
The License Partners in the Markwells Wood well are:
- Northern Petroleum (GB) Limited 50%
- Magellan Petroleum (UK) Limited 40%
- Egdon Resources U.K. Limited 10%
- Northern Petroleum Agrees Cascina Alberto Farm-Out with Shell (Mar 05)
- Northern Petroleum's Latest Alberta Well Proves Uneconomic (Feb 10)
- Northern Drills First Wells in Current Program in Alberta (Sep 17)