The data obtained during drilling will now be evaluated and it is intended to return to the IF structure to re-drill this exploration well as soon as practicable. This re-drill will most likely be located down dip from the structural crest (where IF-1 is located), on the flanks of the structure, where more favorable pressure conditions should be encountered.
The Company is in discussion with its insurers concerning the IF-1 well.
Commenting Kevin Hart, Bowleven CEO, said:
"Although it is frustrating to have to abandon the well at this juncture, the likelihood that the IE and IF structures are connected and have a common substantial gas column is extremely encouraging.
Whilst further drilling will be required to firm up the reserves, the result of this well certainly enhances the likely commerciality of the acreage and suggests the combined IE and IF accumulation may hold substantial volumes of gas and condensate."
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