Valhalla Oil and Gas reported that operator Europa Oil & Gas will mobilize the BDF rig 28 to Lincolnshire on November 9th to begin drilling the main section of the Hykeham-1 exploration well, with operations expected to be complete by early December. The top section of the well (88m) was drilled in February 2009.
The Hykeham prospect is a robust 4-way dip closed structure at Namurian Basal Sandstone level, the same reservoir as in the nearby producing Whisby oil field. Additional potential exists in the overlying Westphalian channel sands play, demonstrated by the thick Loxley Edge oil pay in Whisby-4 and this will also be tested by the Hykeham-1 well.
The operator expects to be able to announce the well results before the end of December. Success at Hykeham would result in Valhalla's first production revenues. Valhalla has a 25% interest in PEDL 150, with Europa holding 75%.
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