Premier Oil Spins Bit at Bluebell Prospect

Canadian Overseas Petroleum Limited announced that drilling activities have begun in the Bluebell exploration prospect that spans Blocks 15/24c and 15/25f in the UK Central North Sea.

Premier Oil plc is the operator of the block and is using the Sedco 704 (mid-water semisub) drilling vessel for the well. COPL has a farm-in agreement whereby it will pay 66.67 percent of the costs to drill one Paleocene Forties well to earn a 40 percent equity interest. The well is expected to take approximately 30 days to drill.

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