Cladhan Operations Update (3791B)
February 17 2011 - 2:02AM
UK Regulatory
TIDMEO.
RNS Number : 3791B
EnCore Oil PLC
17 February 2011
Press Release
For immediate release: 17 February 2011
EnCore Oil plc ('EnCore' or 'the Company')
Cladhan Operations Update
EnCore Oil plc (LSE: EO.) notes the announcement issued today by
Sterling Resources Limited regarding the Cladhan discovery in UK
Northern North Sea Blocks 210/29a and 210/30a, and provides the
text of that announcement below for information. EnCore advises
that all dates and expected drill times are subject to weather or
operational delays.
The text of the Sterling Resources announcement relevant to
Cladhan is as follows:
Sterling Resources Ltd. (TSX-V:SLG) ("Sterling" or the
"Company") is pleased to announce that drilling is expected to
commence within the next few days at Cladhan (Blocks 210/29a &
210/30a). in the UK North Sea, as the drill rig is currently being
towed to the site. At the Cladhan discovery, at least one well and
a sidetrack will be drilled utilizing the Transocean Prospect
semi-submersible rig, with Sterling as operator holding a 39.9
percent working interest. Partners in Cladhan (license P1064) are
Wintershall (UK North Sea) with 33.5 percent working interest,
Encore Petroleum Ltd with 16.6 percent working interest and Dyas UK
Ltd with a 10 percent working interest.
"We're certainly pleased to be back drilling after the
successful autumn campaign in 2010," stated John Rapach, Sterling's
Chief Operating Officer. "Our production test of the 210/29a-4Z
well at 5900 barrels of oil per day and then finding oil down dip
of that well with the 210/29a-4Y sidetrack have given Sterling and
its partners the encouragement to advance an accelerated appraisal
drilling program. We have managed to prepare to drill the next
well, 210/30a-4 within 7 months of re-entering the original
discovery well 210/29a-4, in August 2010", Mr. Rapach added.
The objective of the current program is to drill further down
dip, again looking for deeper oil in the structure to the east of
the previous wells. This will be followed by a sidetrack to a
second location to an undrilled channel further south of the
current well penetrations. Assuming success with both of these
wells, there is an option for the Transocean Prospect to drill a
second sidetrack from the same well out into the fan system.
Information from this drilling campaign will aid in the planning of
the field development conceptual design already underway. The
expected drilling time for these 3 wells is 40 days, 25 days and 30
days, respectively.
End of Sterling Resources' text relevant to Cladhan.
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
Yvonne Fraser, Investor Relations Manager +44 (0)7957 241 408
Westhouse Securities Limited
Tim Feather +44 (0) 20 7601 6100
Matthew Johnson
Notes to Editors:
Cladhan is located 225 miles north east of Aberdeen.
EnCore Oil plc (LSE: EO.) is an oil and gas exploration and
production (E&P) company quoted on AIM.
EnCore has a balanced portfolio of offshore assets, based mainly
in the UK Continental Shelf (UKCS) and a significant equity holding
in AIM listed Egdon Resources plc (LSE: EDR).
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 over 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.
www.encoreoil.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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