Valiant Hits Hydrocarbons in North Sea

Valiant discovered hydrocarbons in the Tybalt exploration well, 211/8c-4, in the targeted Upper Magnus Sand Formation within the eastern 'T2' pinch-out prospect, intersecting a gross oil column of 278 feet (85 meters). Initial data confirmed at least 63 feet (19 meters) of reservoir, lower than pre-drill estimates, however net pay over the drilled section remains to be determined. The well was drilled by Diamond's Ocean Nomad semisub and was expected to take about 30 days to reach its target depth of 11,401 feet (3,475 meters). Currently, Valiant is collecting data, and once analyzed, the net pay has the potential to increase in this part of the field. The company also plans to drill a sidetrack well to test a four way dip 'T1' structure (West Tybalt) located west of the current well. The Tybalt prospect is situated in Quad 211 in the UK sector of the North Sea. Valiant owns an 80% operating interest in the prospect; Agora Oil and Gas owns the remaining 20%.

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