The exploration well is operated by EnCore Oil. The drilling program comprises an initial vertical well targeting best estimate prospective resources of 21.8mmbo (3.3mmbo net), followed by a contingent sidetrack to establish the down dip extent of the accumulation and by a second contingent sidetrack into the Catcher East prospect.
The drilling is being performed by the heavy duty jack-up rig the Transocean Galaxy II. The results of the initial vertical well are expected in June.
Nautical holds a 15% equity share in the block. The company’s costs of the well are being partly carried by our joint venture partner Premier Oil.
Steve Jenkins, CEO of Nautical Petroleum, said: “Block 28/9 contains numerous stratigraphic prospects and leads at the Paleocene, Eocene and the Jurassic levels. A recent interpretation of reprocessed 3D seismic has defined traps and revealed several seismic anomalies.
“The well is targeting the strongest and most convincing of those prospects, where a seismic amplitude anomaly indicates a thick sand sequence likely to be oil bearing.”
