EO. Encore Oil

TIDMEO.

RNS Number : 3428U

EnCore Oil PLC

20 December 2011

Press Release

For immediate release: 20 December 2011

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

Operations Update

EnCore Oil plc (LSE: EO.) announces that the Tudor Rose well 14/30a-5 in Central North Sea Block 14/30a has reached Total Measured Depth of 3,590 feet.

The well encountered an oil column within the target Beauly Formation and Oil Water Contact at 3,236 feet Total Vertical Depth Subsea. Wireline sampling and pressure testing of the hydrocarbon bearing zone has been undertaken and initial wellsite analysis of the samples suggest a viscosity of 600-800 Centipoise, which is likely too viscous to be commercially exploitable. Further onshore analysis will be required before this provisional evaluation can be confirmed. The well will now be plugged and abandoned.

Commenting on the result, Alan Booth, EnCore's Chief Executive Officer said:

"The principal objective of this well was to establish the gravity and viscosity of the oil in place at Tudor Rose to determine if the oil may be capable of commercial exploitation; these provisional results suggest that this is unlikely to be the case. Although the well took longer than expected due to the poor offshore weather conditions we are pleased that EnCore's final well prior to its acquisition by Premier Oil was drilled safely and without incident."

The licence group comprises EnCore Oil (40 per cent., Operator), Endeavour Energy (20 per cent.), EnQuest (20 per cent.) and Nautical Petroleum (20 per cent.)

Peter Williams B.Sc. (Hons.) in Physics and EnCore's Group Technical Manager, who has over 40 years' engineering experience in the oil exploration and production industry, has reviewed and approved the technical information contained in this announcement.

A copy of this announcement will be available on EnCore's website at www.encoreoil.co.uk. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

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 241408 
 
 Cenkos Securities plc 
 Jon Fitzpatrick                              +44 (0)20 7397 1951 
 Ken Fleming                                  +44 (0)131 220 9772 
 
 

Notes to Editors

Since its inception in 2005, EnCore Oil has drilled 27 exploration and appraisal wells and side-tracks, nine as Operator. Of those 27 wells, 24 have encountered oil or gas columns including the nine operated wells.

EnCore shareholders recently voted to accept a takeover offer for the company from Premier Oil plc (LSE: PMO) and this is expected to complete during January 2012.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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