Irvine Energy plc, the AIM listed oil and gas exploration and production company has started drilling the Rock 1-5 well in Butler County, Kansas, USA. The well is targeting high quality oil production from the Arbuckle formation at approximately 3,500 feet. Drilling commenced on 29 April 2008 with drilling time expected to take approximately 10-14 days with completion of the well to follow shortly.
This will be the first of four wells to be drilled on the Rock 3D acreage. Three other prospects will be drilled in succession following drilling of the Rock 1-5. All four wells will be targeting high quality oil from the Arbuckle and Mississippian formations at a depth of 3,000-3,500 feet.
Additionally, Irvine has begun interpreting and preparing prospect locations on its second 3D shoot in Kansas. The initial phase of the Ayres 3D shoot is 50% larger (12 square miles) than the Rock 3D (8 square miles) and early indications are encouraging for prospective locations. The rig contracted to drill the initial four Rock locations will be maintained contractually by Irvine to drill the Ayres locations as they become permitted. It is anticipated this rig will work continuously in drilling Rock and Ayres locations over the coming months.
Irvine has also purchased an adjacent lease to the Rock 1-5 location. This lease contains a salt water disposal well that will be used to re-inject produced formation water. This will allow for maximum oil production from the Rock 1-5 while minimizing operational costs.
Irvine Managing Director Aaron Close said, "The spudding of the Rock 1-5 well is an important step in the Company's continuing development at the Kansas Project, the largest of our projects at 112,000 acres. Over the next 18 months the Company intends to drill a minimum of 12 wells as we look to ramp up production levels through increasing the number of wells producing across our portfolio."
The information contained in this announcement was completed and reviewed by the Managing Director of Irvine Energy plc, Mr Aaron Close, who has over ten years experience as a geoscientist in the North American oil and gas sector, and is a graduate from the Colorado School of Mines Golden with a Bachelor of Science, Mathematics and Computer Science Engineering and Geophysics. Mr Close is a member of the Society of Petroleum Engineers.
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