Valiant finds further oil in Tybalt area

A sidetrack in the Tybalt exploration well 211/8c-4z in the UK northern North Sea (License P1632) has discovered light oil in the four-way dip 'T1' structure, according to operator Valiant Petroleum.

Offshore staff


WOKING, UK -- A sidetrack in the Tybalt exploration well 211/8c-4z in the UK northern North Sea (License P1632) has discovered light oil in the four-way dip 'T1' structure, according to operator Valiant Petroleum.

The West Tybalt find follows Valiant’s earlier success on the East Tybalt structure, also in License P1632, announced in April.

The latest well encountered a 550-ft (168-m) oil-bearing reservoir section in Upper Magnus sands. This exceeded pre-drill estimates, and Valiant adds that pressure data indicate up to three separate oil columns may be present, the largest around 423 ft (129 m) in size.

Also, the size of the overall oil column suggests that East and West Tybalt are in communication. A complex geological setting appears to be in place, with both stratigraphic and stacked trapping mechanisms.

Early analysis suggests West Tybalt’s reservoir quality is better than in the East Tybalt discovery well. Net pay is estimated at 100-200 ft (30-60 m).

Valiant has compiled extensive data, including a reservoir core, wireline logs, fluid sampling, pressure readings, and a vertical seismic profile. The company and its partner Agora Oil & Gas have opted to proceed with a drillstem test.

Valiant will use the data from the two wells to perform detailed reservoir and geological modeling. It believes the currently discovered volumes are commercial and that there could be further upside in the block to the north and west.

However, this upside will need to be confirmed by appraisal drilling, due to the complexity of the geology encountered.

06/03/2010

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