Dana Spuds Platypus Appraisal in North Sea

The Parkmead Group plc reported that the Platypus gas field appraisal well has begun drilling in the UK Southern North Sea.

The Platypus gas field, located in Blocks 48/1a and 48/1c, lies just 11 miles (18 kilometers) north north west of the West Sole gas field and 9 miles (15 kilometers) west south west of the Babbage gas field. The Rotliegendes gas accumulation at Platypus was discovered in 2010 by the Dana Petroleum plc operated 48/1a-5 well, which encountered 218 vertical feet of gas bearing sands and has the potential to contain up to 180 billion cubic feet of gas in place.

The drilling operation is being undertaken by Dana Petroleum as operator using the ENSCO 80 (250' ILC) drilling rig. This well will be drilled horizontally through the Rotliegendes gas reservoir to confirm deliverability and is expected to be suspended for reuse as a gas producer. The other joint venture partners are First Oil Expro Ltd and CalEnergy Gas Ltd.

"We are delighted to report that Parkmead's first well in the North Sea has started drilling. The Company's oil and gas portfolio is growing rapidly, with three acquisitions made in recent months, giving Parkmead a balanced asset base of production, development, appraisal and exploration opportunities," said Executive Chairman of Parkmead Tom Cross.