Atlantic Petroleum Reaches TD at Foxtrot Prospect
Atlantic Petroleum announced that the 49/30b-10 well targeting the Foxtrot prospect reached its total depth of 5855' (measured depth) on August 20. The well targeted the Upper Bunter sandstone formation. However, these sands were found to be water wet. The well has been suspended for later re-entry pending the evaluation of a deeper Rotliegend play.
Ben Arabo CEO of Atlantic Petroleum commented, "The Foxtrot well was the first of a firm four well exploration program spread over the next twelve months. Naturally we are disappointed with the results of the well but we are encouraged that the operator Tullow Oil recognizes the potential of a deeper play. The next well in Atlantic Petroleum's planned exploration and appraisal well program is the UK P.1556 Block 29/1c Orchid well operated by Summit which is expected to be spudded in the fourth quarter of 2011. Atlantic Petroleum holds a 10% working interest in the Orchid well."
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