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East Breagh drilling confirms substantial gas discovery for oil companies

Tuesday, October 21, 2008

The team of oil and gas companies looking for gas in the East Breagh well in UK Southern North Sea Block 42/13 have received positive results from their latest work. Indications are that that the Breagh field is now likely to be a single significant gas accumulation.

This positive result comes on the back of significant resource already confirmed in adjoining West Breagh. A decision on moving towards early development of the gas field will follow further near term drilling on West Breagh.

The joint venture partners on the project include Sterling Resources (45% and operator), EnCore Oil (15%) Faroe Petroleum (10%), Stratic (10%), Regernesys (15%) and Petroventures (5%).

The East Breagh well tested two zones at combined controlled rates of up to 10.2 million standard cubic feet per day.

Alan Booth, chief executive of EnCore Oil, said: “The next Breagh well will help us better define how the reservoir will perform from a horizontal well, giving us a better understanding of development options, production profiles and recoverability.

“Incorporation of the well results into EnCore’s current mapping suggests that this accumulation has the potential to become one of the larger discoveries of recent years in the Southern North Sea.”






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