AED Says Puffin-7 Production Well Intersects Oil

AED Oil Limited says that based on real time logging measurements the Puffin-7 production well has intersected oil at 2514m MDRT (2024m TVDSS).

The well is drilling ahead in an 8-1/2" hole after setting 9-5/8" casing at 2310m MDRT (2055m TVDSS). The well is currently at 2854 m MDRT and is 340m along a planned 400m horizontal section.

The intersection interval has been interpreted as excellent quality LK1a late Cretaceous sandstone. The reservoir sandstone is of a similar high permeability to that encountered in Puffin-5.

Puffin-7 intersected the reservoir at approximately 400m to the north of the Puffin-5 intersection point. Puffin-5 tested oil in June 2000.

AED is continuing its evaluation of the drilling results received to date and the Puffin-7 reserves, including an evaluation of the location of the crest of the reservoir and its height above the point of intersection.

Preparations are being made to complete the well as the first production well of the Puffin Field development. Initial clean up flows and production testing results from the well are anticipated in two weeks, assuming uninterrupted operations.

The well is being drill by the Stena Clyde semisub. Water depth at the location is 103 meters.

AED would also like to report that the government authority has awarded the production license for the Puffin Field as AC/L6.

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