North Sea block 48/25c well abandoned

The consortium responsible for drilling a gas prospect on block 48/25c in the British North Sea has elected to abandon the well.

Offshore staff

HOUSTON -- The consortium responsible for drilling a gas prospect on block 48/25c in the British North Sea has elected to abandon the well. The exploration well was drilled to a total depth of 7,910 ft (2,411 m).

The consortium's decision follows analysis of core samples and the electric log. A substantial gas column was present but with low permeability and porosity. The gas/water contact was observed higher than expected, decreasing the size of the potential reservoir. While it is believed that there are approximately 25 bcf in place on the jointly held acreage in block 48/25c, the consortium deemed this to be non-commercial and is in the process of abandoning the well.

03/26/2009

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