Puffin-8 Intersects 232-Meter Oil Column

The Puffin-8 ST1 well has delineated three mapped highs, intersecting 232 meters of net oil bearing sand (with tops revised after running gyro measurement). Most of the well was drilled as a horizontal trajectory, with vertical depths control to maximize potential producing intervals.

The latter part of the well was used to appraise the oil bearing structure and the regional Oil Water Contact (OWC) which was confirmed as 2034.1 meters after penetrating the contact. A number of pressure measurements were made to confirm the regional continuity of oil bearing sands.

Overall, drilling conditions encountered have been more difficult than expected. Accordingly, the company has decided to complete the well as a the second oil producer at this point in time, rather than continuing with additional appraisal drilling.

The geological results from the well will need to be integrated with earlier mapping to produce an updated model of the Puffin NE1 area and to enable the calculation of oil volumes.

The Puffin-8 well will now be completed and flow tested prior to connection to the subsea manifold as part of the Phase 1A installation process for the Puffin Oil Field.