Nautical Drills Duster at Selkie Prospect

Nautical Petroleum announced the results of the 8/25a-1 Selkie exploration well on the UKCS, its third operated well.

Well 8/25a-1 was drilled to 4692ft by the Transocean Prospect. It encountered a Tertiary Dornoch Formation more sandy than predicted. Despite all depths being very close to prognosis, the reservoir target was dry, probably due to lack of top seal.

The interests held in the block are Nautical 30%, Canamens 30% and Celtic Oil Ltd 40%.

The well was drilled below budget at no cost to Nautical. The rig was released on May 23, 2008.

Nautical and its partners continue to evaluate 8/25a which, to the east of the Selkie, contains the Kelpie prospect.

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