Hendrix farm-in

Offshore staff

(UK) - UK independent Granby Oil and Gas has signed Heads of Agreement with Century Exploration (UK) to farm into UK North Sea block 9/27a.

Under the agreement, Granby will fund 25% of the cost of drilling and testing a well on the license, in return for a 12.5% interest.

The well, to be drilled by the semisubmersibleBredford Dolphin next month, will test the Hendrix prospect, described as being located in a robust four-way dip closed structure with potentially significant stratigraphic upside.

It will be drilled to a true vertical depth of 1,850 m into a well-defined Paleocene submarine fan sandstone.

11/23/05