Wednesday, May 18, 2011
EnCore Oil plc
by SubseaIQ
EnCore announced that the Cladhan appraisal well 210/30a-4y, the third well of a four well program located in UK North Sea Blocks 210/29a & 210/30a has reached Total Measured Depth of 12,615 feet.
The well was drilled as a side-track into the Central Channel prospect which lies to the south of the current Cladhan discovery. The well encountered two Upper Jurassic reservoir sand sequences with a gross true vertical thickness (TVT) of 191 feet and a net of 40 feet TVT. Log and pressure data indicates the sands are water wet. It would appear from the pressure data that the sands in the Central Channel area, although over pressured, are in a separate pressure regime from the main Cladhan accumulation.
The Group will now drill the final side-track of this drilling phase, approximately 150 feet up dip of the previous oil bearing 210/30a-4 well, with the objective of gaining further information on the southern sector of the Northern Channel area where the original Cladhan discoveries have been made. It is expected that this side-track will take approximately 15-20 days, subject to operational and weather requirements.
Commenting on the latest well result, Alan Booth, EnCore's Chief Executive Officer said, "This result has provided important information in outlining the extent of the overall Cladhan play within the license. Although the over pressured nature of the reservoir suggests there may be remaining prospectivity up dip from the current Central Channel well, this would likely need to be the subject of a future drilling campaign. This well and the previous 210/30a-4z deep well in the Fan area have not impacted on the established Cladhan discovery. However, the results start to limit the upside potential on the license as a whole, and suggest that the Cladhan field is likely confined to the Northern Channel belt area and an area up dip of the deep fan well.
"The Group intends to carry out an infield survey and a pipeline survey to determine the best development options for the Cladhan discovery."
The equity in the Cladhan joint venture partnership is as follows: EnCore Oil plc (16.6 percent.), Sterling Resources Ltd (39.9 perent., Operator), Wintershall (UK North Sea) Limited (33.5 per cent.) and Dyas (10 percent.).
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