Antrim Inks Rig, Services Contract for Greater Fyne Area

Antrim Energy has awarded AGR Peak Well Management Limited a contract to provide well project management and drilling services, and provision of the WilPhoenix semisub, for the drilling of two wells within the Greater Fyne Area, in the UK sector of the North Sea. Drilling should take 50 days, not including testing. A site survey of both wells should start in the next three weeks, and both wells are scheduled for drilling mid-year 2011.

The first well is targeting the Jurassic Fulmar formation at a depth of 10,400 feet (3,170 meters) on the West Teal prospect, located on Block 21/24b. The West Teal prospect has a light oil target (37 degrees API) delineated by 3-D seismic and a previous discovery well drilled in 1991. The discovery well encountered a gross oil column of up to 140 feet (43 meters) thick in the Fulmar formation but was abandoned after mechanical problems while conducting a cased hole test. The West Teal prospect is structurally up-dip and lies approximately 2 miles (4 kilometers) west of the Teal field, which has produced approximately 55 million barrels of oil to date.

The second well is targeting the Eocene Tay formation at a depth of nearly 6,000 feet (1,829 meters) on the Carra prospect, located on Block 21/28b. Carra is a medium gravity target delineated by 3D seismic, on trend and situated 2 miles (4 kilometers) from the West Guillemot field. If successful, a discovery on either of these prospects will add resources to the scheduled development of the Fyne field, located 2 miles (3 kilometers) to the northwest of Carra.  

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