Valiant 2011 Drilling Campaign Off to Bold Start

North Sea Fields
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Valiant Petroleum announced that its Don Southwest 'E' Panel exploration well, 211/18a-S7, has reached a total depth of 11,540 TVDSS feet (3,517 meters), encountering a hydrocarbon-bearing Brent sand formation indicating a gross recoverable accumulation of 5 to 7 million barrels of oil. The well will now be suspended as a future production well, which should come online in the second half of 2011.

Additionally, the field partners have decided to drill a low cost pilot-hole into Area 26 to appraise the commerciality of the 211/18a-26 discovery, originally drilled in 2007. Once the Area 26 well is completed, drilling will commence on the Don Southwest Area 6 development well with hopes to bring the well online in the summer of 2011. Don Southwest is located on UK Block 211/18a roughly 6 miles (9.5 kilometers) away from the UK/Norway median line. Valiant holds a 40% stake in the field.

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