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05 Aug 2016
The 13/25-1 well, which was targeting the Bagpuss prospect, on the Halibut Horst in the Outer Moray Firth, has reached a total depth of 1,532 feet (TVDSS) in granite basement.
The well encountered 41 feet of hydrocarbon-bearing sands within a 68 feet hydrocarbon column. This is in line with pre-drill estimates. The sands have between 25 per cent and 33 per cent porosity and indications are that the oil is heavy. The well is now being plugged and abandoned.
Robin Allan, Director of Exploration and North Sea, commented:
'The Bagpuss well has proven a significant volume of oil in place. We will now work with our partners to carry out a full analysis of the hydrocarbons and reservoir encountered to ascertain whether commerciality can be established.'
Enquiries
Premier Oil plc
Tony Durrant, Chief Executive
Robin Allan, Director of Exploration & North Sea
Tel: 020 7730 1111
Bell Pottinger
Gavin Davis
Henry Lerwill
Tel: 020 3772 2570
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PremierOil plc
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CODE : PMO.L |
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PremierOil is a and oil producing company based in United kingdom. PremierOil is listed in United Kingdom. Its market capitalisation is GBX 11.4 billions as of today (US$ 13.4 billions, € 11.5 billions). Its stock quote reached its highest recent level on June 02, 2006 at GBX 999.00, and its lowest recent point on March 13, 2020 at GBX 10.02. PremierOil has 510 820 000 shares outstanding. |