Wintershall Spuds Rodriguez Well

Faroe Petroleum announced Monday that its last well of 2012 is about to begin. Its partner Wintershall Norge is spudding the Rodriguez exploration well (6407/1-6S) in the Norwegian Sea using the Transocean Arctic (mid-water semisub) rig.

The Rodriguez prospect is located in license PL475 on the Halten Terrace in the Norwegian Sea, around 2.5 miles northeast of the Tyrihans field and five miles southeast of the Maria discovery, which was made by Faroe in 2010.

The main objective of the well is to test for oil in the middle Jurassic sandstones of the Garn, Ile and Tilje formations. The water depth is 955 feet and the well is planned to be drilled to a depth of approximately 13,255 feet. Drilling is scheduled to last for around 75 days.

"We are very pleased to announce the spudding of this exploration well on the Norwegian Sea Halten Terrace, near our 2010 Maria oil discovery," Faroe Chief Executive Graham Stewart commented in a company statement.

"This will be the last well to spud in our 2012 programme and we now look forward to an exciting 2013 programme with four important exploration wells scheduled to be drilled in Norwegian waters. In the meantime, we await the results from the BP operated North Uist well, west of Shetland."

Operator Wintershall holds a 50-percent interest in PL475, while Faroe has a 30-percent interest. Centrica Resources holds the remaining 20 percent.



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