EnCore proves Catcher oil extension

EnCore Oil believes the area around its Catcher discovery in the UK central North Sea could contain in-place oil of up to 300 MMbbl.

Offshore staff

LONDON -- EnCore Oil believes the area around its Catcher discovery in the UK central North Sea could contain in-place oil of up to 300 MMbbl. If confirmed, it would be one of the sector’s largest new finds of recent years.

The company issued this prognosis following positive results from the Catcher East sidetrack well (28/9-1Z) in block 28/9. The well, drilled to MD 5,931 ft (1,808 m), intersected high-quality, oil-bearing sandstones, with average porosity of around 34%, similar to the discovery well.

Early analysis pointed to 82 ft (25 m) of net hydrocarbon pay over a gross interval of over 236 ft (72 m). A core taken from the main sand body recovered 44 ft (13.4 m) of oil-bearing sand.

Pressure data indicates a common pressure regime between Catcher East and the Catcher 28/9-1 discovery, suggesting they may be part of a single accumulation. No oil/water contact was encountered.
EnCore and its co-venturers have agreed to a further side track (28/9-1 Catcher SW appraisal) to determine whether additional reservoir sands are present. This is expected to take 15 days, and will mark the end of the first-phase appraisal program.

All drilling results will be integrated to evaluate future development options (according to partner Premier Oil) and a next-phase appraisal campaign. This will extend to targeting other high potential prospects on the license, including the Catcher North area.

EnCore’s reserves estimate is based on analysis of the entire Catcher feature, including the eastern and unexplored northern extensions. It adds that further work is needed to firm up probable recovery rates.

06/28/2010

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