Revus Energy makes two North Sea discoveries

Revus Energy has confirmed a gas/oil discovery on the Jordbær prospect in the Norwegian North Sea.

Offshore staff

STAVANGER -- Revus Energy has confirmed a gas/oil discovery on the Jordbær prospect in the Norwegian North Sea. Operations are ongoing and further data gathering with subsequent evaluation will continue, according to the company. The Jordbær prospect, located in PL 373S, is being drilled by the semisubmersible Bredford Dolphin.

The company has also confirmed well 21/8-4 on the Torphins prospect as an oil and gas discovery. The well, which spudded by the semisubmersibleGSF Artic II on June 20, 2008, was drilled directionally to test the eastern part of the Torphins prospect in the central UK North Sea sector and penetrated a Paleocene reservoir sandstone section with a gross logged oil and gas column in the region of 9 m (30 ft). The company nows plans a further directional well from the same surface location to test the western part of the prospect.

"Although the discovery of oil & gas in the Torphins well is encouraging, the length of oil column which sits below a gas cap, is less than we had hoped for," says Harald Vabø, CEO of Revus Energy. However, we believe that the western part of the prospect has the capacity to hold oil volumes in commercially viable quantities and is the focus of the next stage of our drilling operation."

07/10/2008

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