Nautical Secures Rig for Catcher Campaign

Nautical Petroleum announced that a rig contract has been signed for the next drilling campaign to take place on UKCS Central North Sea Block 28/9, which contains the Catcher and Catcher East discoveries.

The Transocean GSF Galaxy II heavy duty jack-up rig is expected to return to the Catcher area later this week to drill up to four exploration and appraisal wells. The first well in the program is on the Varadero exploration prospect situated to the west of the Catcher discovery.

Nautical has a 15 percent equity interest in Block 28/9.

Commenting on this announcement Steve Jenkins, Chief Executive Officer of Nautical said, "We are very pleased that we have secured the Galaxy II rig enabling us to recommence the drilling campaign on the Catcher block. The co-venturers will drill up to 4 wells, which will greatly enhance our understanding of the potential on the block."

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