Valhalla Oil and Gas has announce that license operator Europa Oil & Gas commenced drilling operations on the Hykeham-1 exploration well on January 27, 2009. The top-hole section of the well, to approximately 100m, will be drilled and cased and the well suspended for re-entry in mid-2009 to complete the main section of the well.
Hykeham-1 is being drilled on a well-defined four-way dip-closed feature (Gravel Pits structure) at the Namurian Basal Sandstone level, which is the main reservoir in the nearby Whisby oil field. The Hykeham prospect has a common spill-point with Whisby, which is only 2.2km away and where Europa’s 2003 Whisby-4 well came in at 500bopd. In addition, a nearby well situated down-dip from the Hykeham-1 location, Caledonian Farm-1, contained a live oil column in the Basal Sandstone sequence. Additional potential exists in Hykeham-1 in overlying Westphalian sandstones, which are oil-bearing in Whisby-4.
The operator has stated that "the Hykeham prospect is low risk, with all the necessary elements of reservoir, structure, migration and seal being amply demonstrated in the seismic and well data. Success later in 2009 would allow for immediate test production, thereby creating early cashflow."
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