East Tybalt yields oil for Valiant

Valiant Petroleum has discovered oil on the East Tybalt prospect in the UK northern North Sea.

Offshore staff


WOKING, UK -- Valiant Petroleum has discovered oil on the East Tybalt prospect in the UK northern North Sea.

Well 211/8c-4 in License P1632 hit the target in the Upper Magnus Sand Formation within the eastern T2 pinch-out prospect. It intersected a gross oil column of 278 ft (85 m).

Initial log-while-drilling data suggests at least 63 ft (19 m) of reservoir, below pre-drill estimates for this location. Valiant has yet to determine net pay over the section.

The company is presently compiling an extensive data-set, having cored the reservoir and performed wireline logs, fluid sampling, pressure readings and a vertical seismic profile. Valiant hopes that post-analysis, it will see potential to increase net pay in this part of the field.

The company will now drill a sidetrack targeting the four-way dip T1 structure (the West Tybalt prospect) immediately west of the current well. Based on offset well data in the area, it anticipates improved reservoir properties at this location. Results are expected early in June.

Valiant is also reviewing further appraisal options, which could include another sidetrack and a drill stem test. Improved understanding of the regional reservoir properties could facilitate development in the near term.

CEO Peter Buchanan said: "In the event of further success in the West Tybalt sidetrack well, Valiant believes that sufficient hydrocarbon volumes will have been identified to proceed with a development either on its own or alongside the development/re-development of the other fields in the area including the nearby Valiant-operated Banquo and Helena discoveries."

5/10/2010

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