Valiant Strikes Oil at West Tybalt

Valiant discovered light oil in Tybalt's sidetrack exploration well 211/8c-4z in the four-way dip T1 structure. The well encountered an oil bearing reservoir section in the Upper Magnus sands of about 550 feet (168 meters). The find is larger than pre-drill estimates, and collected pressure data imply up to three separate columns may be present with the largest totaling 423 feet (129 meters). The size of the encountered oil column suggest the East and West Tybalt discoveries are in communication and a more complex geological setting is present. Valiant performed an extensive data collection program, and will now proceed with a drill stem test of the well. Valiant serves as operator of the blocks with an 80% working interest; the remaining 20% is held by Agora Oil & Gas (UK) Limited.

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Brent Crude Oil : $53.87/BBL 0.48%
Light Crude Oil : $50.73/BBL 0.79%
Natural Gas : $3.33/MMBtu 2.14%
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