Oilexco lines up trio of UK wells

Offshore staff

ABERDEEN, UK --Oilexco expects to drill at least three exploration/appraisal wells in the UK central North Sea in the next few months.

At the Morro/Coronado prospect in block 22/13b, north-east of the Huntington oil discovery, Oilexco plans a two-legged well probing for oil in Palaeocene Forties sand. The targeted structures are analogous to those found earlier this year at Huntington.

In block 22/14a, the company will participate in a 13,500 ft (4,114 m) well into a Fulmar section to evaluate another structure on trend with, and also analogous to, Huntington. On completion of this well, Oilexco will earn a 16.5% interest in productive zones below the chalk layer, which include the Fulmar sands.

Once the semisubOcean Guardian has completed its work on Morro/Coronado, the rig will drill the Bugle prospect in block 15/23d, targeting the location of the oil/water contact.

11/16/2007