The Stena Tay has finished wireline log acquisition on Labeidna-1 exploration well, including the recovery of oil and rock samples to surface. The well was plugged and abandoned as planned. The Stena Tay drill rig was released on November 20, 2005 to drill a well for another operator.
Preliminary evaluation of the data acquired in Labeidna-1 indicates that the well intersected a gross oil bearing interval of 116 meters, comprising an interbedded series of thin but high quality sands and claystones. Interpretation of image logs and magnetic resonance logs and other analytical work is continuing to quantify the total net pay thickness. These results will be incorporated into an assessment of the commercial potential of the Labeidna accumulation.
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