EnCore Drills Duster in North Sea

EnCore says an analysis of the available electric logs indicates that no significant hydrocarbons were present in exploration well 18/5-2 located in the North Sea. It is expected that the well will be plugged and abandoned following completion of the drilling operations.

The well, operated by Apache North Sea Limited, began drilling on February 13, 2007 with the semisub Petrolia.

Alan Booth, Chief Executive Officer, commented:
"We are naturally disappointed that this was not a better result for our first offshore well. This result validates our strategy of portfolio diversification and we look forward to a multi-well program for 2007 and 2008. In the meantime we remain alert to further opportunities to expand and shape our portfolio."

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.