The Tertiary (Paleocene) Catcher prospect, operated by EnCore Oil in the UK Central North Sea block 28/9, is expected to be spudded in May 2010.
A seabed survey was completed in January, which determined that the well can be drilled using a heavy duty jack-up rig. Following the letter of agreement signed in December, the rig agreement has now been signed for the Transocean Galaxy II jack-up rig.
Nautical Petroleum holds 15% of the block and the costs of the well are being partly carried by the company’s joint venture partner Premier Oil.
Steve Jenkins, CEO of Nautical Petroleum, said: “Catcher represents our first significant exploration activity in 2010. The block contains numerous stratigraphic leads and prospects at the Paleocene, Eocene and the Jurassic levels.
“Recent 3D reprocessed and interpreted seismic has defined traps and revealed several seismic anomalies. The upcoming well will target the strongest and most convincing of those leads, where a seismic amplitude anomaly indicates a thick sand sequence, which is likely to be oil bearing. We look forward to the well spudding in May 2010.”
