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Atlantic Petroleum - Drilling programme in the Celtic Sea, Ireland   30.3.2007 11:17:05
News categories: Corporate news   Faroe Islands News      Íslenska  English
Atlantic Petroleum announces today details of this year’s drilling programme in the Celtic Sea, offshore Ireland

Atlantic Petroleum announces today details of this year’s drilling programme in the Celtic Sea, offshore Ireland. An appraisal well will be drilled on the crest of the Hook Head Field in Standard Exploration Licence No. 2/07, in the Celtic Sea Basin, during this summer.

 

The Petrolia semi-submersible drilling rig has been secured for a 50 day drilling slot and the SEL 2/07 licence group, operated by Providence, have elected to drill an appraisal well on the crest of the Hook Head Field.

 

The Hook Head structure is a large anticline that was first drilled in 1971 by Marathon. The IRL 50/11-1 well discovered hydrocarbons in five sandstone units within the Lower Cretaceous. The well was not flow-tested due to severe operational issues at the time. The IRL 50/11-2 appraisal well, drilled by Marathon in 1975, was a delineation well at the down-dip edge of the structure. Post-drill mapping by Marathon indicated that the crest of the structure is located to the north-east of the IRL 50/11-1 discovery well. This mapping is supported by the seismic data acquired by Providence and partners in 2006. The IRL 50/11-C appraisal well will be drilled in a crestal location, some 2 km northeast of the IRL 50/11-1 well.

 

Commenting on today’s announcement, Wilhelm Petersen, CEO, said:

 

“Atlantic Petroleum are pleased that one of our recently acquired Celtic Sea licences is going to have drilling activity over the summer. The well will be an important one for proving up commercial hydrocarbons in the Hook Head Field and has the potential of opening up the Celtic Sea to future developments on other discoveries in the area.”

 

 

About Hook Head

 

Atlantic Petroleum holds a 10% interest of SEL 2/07 which contains the Hook Head prospect. Located in the North Celtic Sea Basin, in some 80 metres of water, the area is located some 60 km off the coast. Current partners in this licence are: Providence (operator) 40%, CMI 15%, DYAS, 15%, Atlantic Petroleum 10%, Forest Gate Resources Inc 15% and Midmar Energy Limited 5%.

 

 

 

Further Details

Further details can be obtained from Wilhelm Petersen, Managing Director, tel +298 350 100 (wilhelmp@petroleum.fo) or Teitur Samuelsen, Financial Manager, tel +298 350 100 (teiturs@petroleum.fo). This announcement will be available, together with other information about Atlantic Petroleum, on the company’s website: www.petroleum.fo.


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