Stratic Energy Says Crawford Well Exceeds Expectations

Stratic Energy says that the 9/28a-18 Crawford appraisal well in the UK North Sea will be suspended for future operations following completion of current activities on the well, having successfully proved an extension of the Crawford Triassic reservoir. It has not been possible to conduct the planned hydraulic fracture and testing of the well in the limited period during which the hydraulic fracture equipment was available, due to problems in cementing the 7 " liner. The partners expect to return to the well in the first half of 2008 and are looking at the possibility of combining this with a wider drilling program in the Crawford area.

As previously reported, well 9/28a-18 successfully confirmed the extension of Crawford Triassic reservoir to the north of the field, encountering over 1,200 ft of oil bearing sandstone with the benefit of a 70° well bore deviation (equivalent to a more than 400 ft vertical section). The well also discovered oil in a separate Tertiary target known as Delta A, comprising a 62 ft oil column containing 40 ft of pay.

The partnership group will now evaluate the very encouraging results of the well to define the optimum forward program. Options for the development of the Crawford area include an extended production test of the Triassic reservoir appraised by the current well and further exploratory drilling on other Tertiary prospects near to the Delta A discovery.

Stratic's interest in the P209 Crawford license is 19%, and the operator is Fairfield Energy.

Kevin Watts, Stratic's Chief Executive, commented: "The results of this well exceed expectations, proving up a significant deeper Triassic resource with better reservoir characteristics than those encountered in the original Crawford development which focused largely on the shallower Jurassic horizons. It gives us sufficient encouragement to move ahead and define potential development concepts for this new resource, with the possibility of submitting a field development plan by the end of next year".