Valiant Spuds Tybalt in UK North Sea

Valiant commenced drilling operations on the 211/8c exploratory well on the Tybalt prospect. The well is preparing to spud today and should take around 30 days to reach its target depth of roughly 11,400 feet true vertical depth subsea. Diamond Offshore's Ocean Nomad will perform drilling operations. The prospect is located in the Magnus sand formation and is targeting initial, gross P50 prospective resources of 35.6 MMbbl in the eastern 'T2' location. A sidetrack well may also be performed depending on results of the initial well to test a four-way dip 'T1' structure to the west of the main prospect. The Tybalt prospect is situated in Quad 211 in the UK sector of the North Sea. Valiant owns an 80% operating interest; Agora Oil and Gas holds the remaining 20%.

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