EnCore Spuds Varadero Well

EnCore reported that the Varadero exploration well 28/9-2 in Central North Sea block 28/9 was spudded at 21.45 hours on Saturday 18 December 2010.

The EnCore operated well is being drilled using the Transocean GSF Galaxy II heavy duty jack-up rig and is being managed by Applied Drilling Technology International (ADTI), a turnkey drilling services provider with over 30 years' experience. The well is expected to take approximately 20 days, subject to weather and operational requirements.

The main objective of the well is to establish if hydrocarbons are present in the Tay sands at an estimated depth of approximately 4,125 feet Total Vertical Depth Sub Sea.

Partners on the license are EnCore (15 percent., Operator), Premier Oil (35 percent.), Wintershall (UK North Sea) Limited (20 percent.), Nautical Petroleum (15 percent.) and Agora Oil & Gas (15 percent.).

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