Gas explorers positive on gas shows from East Breagh prospect
03 October 2008
There was some good news from small-caps working in the Southern North Sea today after a group of companies working on the East Breagh prospect got some successful gas shows after test drilling.
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%).
Initial analysis of wireline log and pressure data indicates the presence of a 72 foot net gas bearing interval and that the gas in this well is likely to be part of the same accumulation found in the 42/13-3 well, drilled in 2007 approximately four kilometres to the northwest.
The partnership group has taken the decision to undertake a well testing programme to better understand the potential productivity of the reservoir in this part of the accumulation. The testing programme is expected to take approximately 14 days.
Alan Booth, EnCore Oil's chief executive, said: “Subject to successful testing, we believe that this well has established a very significant gas accumulation at Breagh.”
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