RNS Number : 1726G
  EnCore Oil PLC
  20 October 2008
   

    

    Press Release

    For immediate release: 20 October 2008

    EnCore Oil plc ("EnCore" or "the Company")

    Esmond evaluation well - drilling update

    EnCore Oil plc (LSE: EO.) provides the following update following an incident on the Energy Enhancer drilling rig at the weekend.

    A small fire broke out early Sunday morning 19th October in the ventilation system on the Energy Enhancer drilling rig. As this resulted
in smoke entering the accommodation area of the rig, 34 non-essential personnel were evacuated from the rig to the stand-by vessel and were
further transported to shore. 45 essential personnel remain on board.

    The fire has been dealt with and now an inspection of the electrical systems on the rig is being carried out to check for damage and to
try and establish the cause of the fire.

    Alan Booth, Chief Executive Officer, commented: 

    "The safety of the crew is paramount whenever such incidents occur and I am pleased that the appropriate action was taken by the
Offshore Installation Manager.  The well is currently approximately 10 metres above the reservoir and once essential safety checks are
carried out it is anticipated drilling will recommence shortly thereafter."

    As part of the commercial arrangements between Star Energy (now a subsidiary of Petronas) and EnCore, Star Energy will bear the entire
cost of drilling of this well.  EnCore has a 50 per cent. interest in the project and Star Energy, the operator, also has a 50 per cent.
interest.


    For further information, please contact:

 EnCore Oil plc                         www.encoreoil.co.uk 
 Alan Booth, Chief Executive Officer    +44 (0)20 7224 4546
 Eugene Whyms, Chief Financial Officer

 Aquila Financial Limited               www.aquila-financial.com
 Peter Reilly                           +44 (0) 118 979 4100

 Hanson Westhouse Limited
 Tim Feather / Matthew Johnson          +44 (0)113 246 2610

 KBC Peel Hunt
 Jonathan Marren                        +44 (0)20 7418 8900

      
    Notes to Editors:

    EnCore Oil plc (LSE:EO.) is an oil and gas exploration and production (E&P) company quoted on AIM.

    At EnCore, it is not the Company's aim to build a full cycle E&P company. The principal strategy is to create shareholder value through
the successful exploration and appraisal of prospects and discoveries. The Company will seek to monetise or exchange the asset at the
appropriate point in its life cycle and return value directly to shareholders wherever possible.

    EnCore has an experienced and proven management team, a number of whom were responsible for the discovery of the Buzzard field in the UK
North Sea, which currently produces 10 per cent. of the UK's total oil production. 

    All EnCore's commercial and material technical evaluations are undertaken in-house by the EnCore team. This brings both continuity to
the management and development of the assets and an ownership that is vital to unearth the best and most creative new ideas and
opportunities.

    EnCore currently holds a balanced portfolio of interests in licences both on and offshore, primarily focused on the UKCS. This portfolio
includes an active drilling programme.

    www.encoreoil.co.uk 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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