Eternal Expects March Spudding for Quad 14
Eternal Energy Corp. announced that it expects to start its Laurel Valley Quad 14 drilling program on or about March 15, 2007.
EERG is participating in the drilling of an exploratory test well on a 255 square kilometer (63,000 acres) prospect located within Quad 14 in the North Sea.
"We're very excited that our drilling program is about to begin," said Brad Colby, CEO of Eternal Energy Corp. "Regionally, the prospect is located in a very prolific trend. The block is located 24 kilometers south of the 639 million barrel Claymore field; 20 kilometers south of the 132 million barrel Scapa field; and 9 kilometers north of the 592 BCF Goldeneye field. These fields were developed on graben trends identified by seismic data. Based on a 3-D seismic survey, a similar graben exists over the Laurel Valley prospect, so we are optimistic."
Recent 3-D seismic data indicate the potential for trapping hydrocarbons in at least 3 potential reservoirs in the Quad 14 acreage block.
Transocean's Sedco 712 propulsion-assisted semi-submersible drilling vessel will be conducting the Quad 14 drilling operation. EERG's partners in this project are Oilexco, International Frontier Resources and Gulf Shores Resources.
Eternal Energy Corp. is an oil and gas company engaged in the exploration for petroleum and natural gas in the State of Nevada and the North Sea.
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