Wintershall Spuds Solberg Well in Norwegian Sea

German independent explorer Wintershall has begun drilling the Solberg appraisal well in the Norwegian Sea, its partner Faroe Petroleum reported Monday.

The appraisal well (6407/1-7) is targeting the Solberg prospect, which is located on the PL475 license on the Halten Terrace area of the Norwegian Sea some 2.5 miles northeast of the Tyrihans field and five miles southeast of Faroe's Maria discovery.

The well will assess the lateral extent and size of the Lower Cretaceous-layer Rodriguez discovery that was announced by Faroe in January 2013 and where movable hydrocarbons were discovered in sandstone layers in the Lange formation. Gross un-risked preliminary volumetric estimates of the size of the Rodriguez discovery are between 19 and 126 million barrels of recoverable oil equivalent.

Faroe Chief Executive commented in a company statement:

"We are pleased to announce the spudding of the Solberg appraisal well which follows on from the adjacent Rodriquez discovery announced in January 2013. This well is particularly exciting due to its potential to open up a new play in this area, in which Faroe has built up a substantial position.
"Solberg is the second well to spud this year in our continuing high-impact exploration and appraisal program. This well follows the significant Snilehorn discovery announced in November 2013 and our recently announced small oil and gas discovery at the Novus well. The campaign continues with the current drilling of two further wells, on Pil, located close to the Njord Field and the Butch East well, adjacent to the Butch Main discovery in the Norwegian North Sea, with results due on each in the coming weeks."

Wintershall Norge is the operator of the Solberg license, with a 35-percent interest. Centrica Resources and Faroe both hold 20-percent stakes, while Moeco Oil & Gas Norge and Spike Exploration Holdings hold 15 percent and 10 percent respectively.

The Solberg appraisal well is being drilled by the Borgland Dolphin (mid-water semisub) rig.



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