EnCore Begins Drilling Cobra Gas Appraisal Well

EnCore Oil plc reported that drilling operations on the Cobra appraisal well on Southern North Sea block 48/2c have commenced.

The main objective of the 48/2c-5 well will be to establish whether the reservoir is capable of flowing at commercial rates. The well is being drilled up dip from the 48/2-1 well, drilled in 1984, which flowed at 2.7 million cubic feet per day from a Rotliegendes Sandstone reservoir. It is interpreted that the reservoir was damaged during the drilling of the 48/2-1 well and that the reservoir performance could be improved by the use of modern drilling and completion techniques.

The EnCore operated well is being drilled by the ENSCO 80 jack-up rig and will be managed by Applied Drilling Technology International (ADTI) which has over 20 years' experience in providing 'turnkey' drilling services. EnCore has a 20 per cent. interest in the licence and will pay for only three per cent. of the appraisal well cost (subject to an overall well cost cap).

Graham Dore B.Sc. (Hons.) in Geology and M.Sc. in Petroleum Geology and EnCore's Exploration Director, who has over 20 years' experience in the oil exploration and production industry, has reviewed and approved the technical information contained in this announcement.

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