Dana Kicks Off Magnolia Ops in North Sea
by Trap Oil Group plc
|Monday, February 25, 2013
Trapoil announced that operations have commenced on the Magnolia (Licence P.1610, Block 13/23a) exploration prospect. The partners in Licence P.1610 are Dana Petroleum (BVUK) Limited (45.0 percent, operator), Summit Petroleum Limited (25.0 percent), Atlantic Petroleum UK Limited (20.0 percent) and Trap Oil Limited (10.0 percent carried interest).
Magnolia is mapped as a 3-way dip closure and one-way pinch out onto the Halibut Horst. The structure is mapped as a prominent ridge plunging southwards from the Halibut Horst into the Smith Bank Graben, with the trap being shared between Blocks 13/22d (60 percent) and 13/23a (40 percent). Drilling of this exploration well will satisfy the outstanding firm well commitment on Block 13/23a. Primary objectives are defined within the Lower Cretaceous interval with targets comprising the Captain, Coracle and Punt sandstones. The well is being drilled using the rig Ocean Nomad (mid-water semisub) and well operations are currently anticipated to last approximately 26 days in the dry hole case. The well will be drilled to an estimated target depth of 5,028 feet Measured Depth Below Rotary Table or 4,920 feet True Vertical Depth Sub Sea.
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