EnCore Strikes Oil at Catcher Well

The Catcher well 28/9-1 was drilled to a total depth of 5,219 feet (1,591 meters) measured depth, encountering oil bearing reservoir sandstones at 4,600 feet (1,402 meters) at the targeted Cromarty Sandstone level. Initial analysis indicates the discovery of a minimum 240 feet (73 meters) oil column with a calculated net pay of 90 feet (27 meters). Data was gathered and testing will now be performed with the aim of collecting both flow rate characteristics and sufficient oil samples for potential development studies. Dependent upon the results of the testing, the group plans to drill a sidetrack well to test the Catcher East area, which demonstrates similar seismic characteristics to the Catcher discovery area. The Catcher prospect is located in the Central North Sea Block 28/9 in a water depth of 299 feet (91 meters). Encore Oil serves as the operator of Catcher, holding a 15% interest; Premier Oil holds 50%; Nautical holds 15%; and Wintershall holds the remaining 20% interest.

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