Oilexco resumes Huntington studies

Oilexco has decided to drillstem test its recent Huntington oil discovery in UK central North Sea block 22/14b.

Offshore staff

ABERDEEN, UK --Oilexco has decided to drillstem test its recent Huntington oil discovery in UK central North Sea block 22/14b.

Well 22/14b-5 was drilled to a total depth of 13,325-ft (4,061 m). Wireline evaluation of the Upper Jurassic Fulmar sand at 12,750 ft (3,886 m) subsurface suggests the entire 130 ft (39.62 m) of Fulmar sand is oil-bearing, and wireline pressure and sampling across this interval has recovered 40° crude.

Oilexco plans a DST through 101 ft (31 m) of perforations, with test operations likely to be concluded within 10 days. The next step will be a further DST in the Palaeocene Forties interval. Both tests should provide useful data for pre-evaluation of two analogous Palaeocene structures identified on block 22/13 b to the west, which Oilexco also operates.

This fall, the company expects to employ one of its two semisubmersible rigs on long-term contracts for appraisal drilling on Huntington. Analysts Merrill Lynch believes Huntington may contain 150 MMbbl of oil, making it one of the UK's largest oil discoveries of recent times.

06/06/2007

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