EnCore Notes Preliminary Pressure Results at Esmond Reservoir

EnCore has received preliminary pressure information from the operator, Star Energy, on the Esmond gas storage evaluation well.

The currently available information suggests that the uppermost Esmond reservoir has not undergone any significant repressurization, whereas the lower part of the reservoir has seen appreciable repressurization.
Wireline logging and pressure testing are still ongoing and further information will be released as appropriate.

Alan Booth, EnCore Oil’s CEO, said, "The results show the reservoir behavior to be more complex than initially modelled and it will take some time to assess the impact on project design. The results, whilst preliminary, indicate that some parts of the reservoir will perform as modelled and other parts may require a different engineering solution to that looked at to date. We will continue to work with Star Energy to incorporate and understand the new data and their implications on the project."