Antrim to Acquire Stake in UK Block 21/15a from Nexen
Antrim Energy Inc.
Antrim
has
executed
a
Heads
of
Agreement
to
farm-in
to
UK
North
Sea
Block
21/15a,
owned
and
operated
by
Nexen
Petroleum
U.K.
Limited.
Antrim
will
earn
a
25.00%
working
interest
in
the
Block
by
participating
in
a
well
to
be
drilled
by
Nexen
Petroleum
U.K.
Limited
in
2005
or
early
2006.
Final
completion
of
the
transaction,
which
is
subject
to
the
execution
of
a
Farm-in
Agreement
and
Joint
Operating
Agreement
and
normal
regulatory
approval,
is
expected
to
be
completed
by
May
31.
The well will be drilled to a planned depth of approximately 3660 meters to test the Jurassic Fulmar sandstone Bennachie Prospect. The Bennachie Prospect was identified by the 21/15a-2 well, which flowed 40 degrees API gravity oil at a rate of 4363 bbl/d on a 44/64" choke.
Block 21/15a is in close proximity to producing fields and infrastructure in the UK Central North Sea.
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