The board of InfraStrata plc announced Friday that wellsite construction has commenced for the Woodburn Forest-1 well in Northern Ireland.
Following the latest development at the site, well drilling is expected to commence in May this year. The P50 prospective resources within the Woodburn Forest prospect are estimated 25 million barrels of oil, according to an InfraStrata statement.
Commenting on the commencement of operations at the well, InfraStrata CEO Andrew Hindle said in a company statement:
“We are pleased that the preparations for the well are underway. The well will target three conventional sandstone reservoir intervals, the Triassic Sherwood, Permian Lower Permian Sandstone and Carboniferous Sandstones. The P50 Prospective Resources have been estimated by the joint venture at 25 million barrels of oil within the Woodburn Forest prospect.
“If the well encounters petroleum it would confirm the wider prospectivity of the Larne-Lough Neagh Basin within the area licensed to InfraStrata and partners. The directors of InfraStrata believe this in turn would have a very positive impact on the economy of Northern Ireland.
“We appreciate the support of a number of local contractors who will be employed by InfraStrata over the coming weeks.”
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