Oilexco Tests 6th Appraisal Well at Brenda Field

Oilexco reports that the well 15/25b-10 ("Brenda"), the sixth appraisal well inclusive of sidetracks at its "Brenda" oil find located in the UK central North Sea, flow tested 3,351 bbl/d of 40 degree oil from the Paleocene Forties sand during production testing operations. The oil flow was through a 48/64" choke at 387 psi flowing wellhead pressure from 35 feet of perforations at the top of a 50 foot gross pay section. This rate was limited by the testing equipment available.

The 15/25b-10 well is the sixth appraisal well to the "Brenda" oil find, originally made in 1990 by the well 15/25b-3. The well 15/25b-6, the first well drilled by Oilexco, tested 2,980 bbl/d of 40 degrees oil through a 40/64" choke under stable flowing conditions from the Forties Sandstone in late January.

This well was followed by the tested wells 15/25b-8 and 15/25b-9Y which flow tested 4,785 bbl/d and 2,685 bbl/d respectively. The intersection of a significant oil column in a seismically defined channel sand lacking structural closure by the 15/25b-10 well has further confirmed the "Brenda" oil find to be a stratigraphic trap of sizable proportions. Oilexco has identified additional appraisal locations from its seismic interpretation to further define the limits and reserves of the "Brenda" oil accumulation.

Oilexco is in the second phase of its "Brenda" appraisal drilling program on License P1042 (100% working interest), Block 15/25b in the Outer Moray Firth, targeting oil in the Paleocene Forties Sandstone.