Monday, October 15, 2012
Serica Energy plc (TSX & AIM: SQZ) confirms that drilling has commenced in North Sea block 15/21ato the east of the Spaniards oil discovery lying in North Sea blocks 15/21a and 15/21g. Serica has a 21% interest in the licence which contains the Spaniards discovery.
The Spaniards discovery was made in 1989 by well 15/21a-38z which flowed at a rate of 2,660 barrels per day of 25o API oil on test. The Spaniards East well, which is being drilled by the WilPhoenix semi-submersible rig, is expected to take approximately 40 days and is aimed to test the down-dip potential some 1.2 kilometres to the east of the Spaniards discovery well. It is not planned to test the well.
Participants in the Spaniards East well are Premier Oil (operator), Serica Energy, Cairn Energy, Parkmead Group, Faroe Petroleum, Maersk Oil and Atlantic Petroleum.
Tony Craven Walker, Serica's Chairman and Interim Chief Executive said:
"We are pleased that drilling operations have now commenced to appraise the area adjacent to the Spaniards discovery. If the well is successful it will demonstrate that Spaniards, which lies close to the producing Scott field in the Central North Sea, has the potential to be commercial and, in those circumstances, we would look forward to accelerating further appraisal plans."
This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More
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Source: http://feeds.oilvoice.com/~r/OilvoiceHeadlines/~3/zmfOrF9wOj4/8b0aa8f822dc.aspx
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