Offshore staff
ABERDEEN, UK --Silverstone is acquiring a 10% interest in a UK North Sea block 9/11c from Nautical Petroleum.
Under the terms of the farm-out agreement, Silverstone will pay 20% of drilling costs for an exploratory well on the Mermaid prospect, which is due to spud in late October. Mermaid is thought to be analogous to the nearby heavy oil Mariner field.
Delineation on reprocessed 3D seismic data suggests potential reserves at Mermaid of up to 129 MMbbl.
09/24/2007
