17 May 2010 - Catcher Well Spud
Press Release
For immediate release: 17 May 2010
EnCore Oil plc (‘EnCore’ or ‘the Company’)
Commencement of Drilling Operations on Catcher Well
EnCore Oil plc (LSE: EO.) announces that the Catcher exploration well 28/9-a in Central North Sea block 28/9 was spudded at 08:00 hours on Monday 17 May 2010.
The EnCore operated well is being drilled using the Transocean Galaxy II heavy duty jack-up rig and is being managed by Applied Drilling Technology International (ADTI), a turnkey drilling services provider with over 30 years' experience. The well is expected to take approximately 15 – 20 days to reach total depth, subject to weather and operational requirements.
The main objective of the well is to establish if hydrocarbons are present in a Paleocene age reservoir at an estimated depth of 4,400 ft.
Partners on the licence are EnCore (15 per cent., Operator), Premier Oil* (35 per cent.), Wintershall (UK North Sea) Limited (20 per cent.), Nautical Petroleum (15 per cent.) and Agora Oil & Gas* (15 per cent.).
*subject to DECC consent and completion
Graham Doré B.Sc. (Hons.) in Geology and M.Sc. in Petroleum Geology and EnCore's Exploration Director, who has over 20 years' experience in the oil exploration and production industry, has reviewed and approved the technical information contained in this announcement.
Click here for a pdf copy of the announcement
For further information, please contact:
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EnCore Oil plc
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www.encoreoil.co.uk
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Alan Booth, Chief Executive Officer
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+44 (0)20 7224 4546
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Eugene Whyms, Chief Financial Officer
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Yvonne Fraser, Investor Relations Manager
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+44 (0)7957 241 408
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Westhouse Securities Limited
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Tim Feather
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+44 (0) 20 7601 6100
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Matthew Johnson
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Notes to Editors:
EnCore is being carried on the Catcher well cost by partners Premier Oil (uncapped) and Wintershall (UK North Sea) Limited (capped).
EnCore Oil plc (LSE:EO.) is an oil and gas exploration and production (E&P) company quoted on AIM.
It is not the Company’s aim to build a full cycle E&P company. The principal strategy is to create shareholder value through the successful exploration and appraisal of prospects and discoveries. The Company will seek to monetise or exchange the asset at the appropriate point in its life cycle and return value directly to shareholders wherever possible.
EnCore has an experienced and proven management team, a number of whom were responsible for the discovery of the Buzzard field in the UK North Sea, which currently produces over 10 per cent. of the UK’s total oil production.
All EnCore’s commercial and material technical evaluations are undertaken in-house by the EnCore team. This brings both continuity to the management and development of the assets and an ownership that is vital to unearth the best and most creative new ideas and opportunities.
www.encoreoil.co.uk
Monday, May 17, 2010
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