Scotsdale Petroleum gets Netherlands exploration license

PA Resources' subsidiary Scotsdale Petroleum has won an exploration license offshore the Netherlands

Offshore staff

STOCKHOLM, Sweden -- PA Resources' subsidiary Scotsdale Petroleum has won an exploration license offshore the Netherlands. The company gets a 50% working interest in block Q/7. Smart Energy Solutions owns the remaining 50 %, and is the operator.

Block Q/7, which covers approximately 400 sq km (154 sq mi), includes the Q/7-1 gas discovery, which is estimated to contain 20 - 40 bcf of recoverable gas.

The discovery well was drilled by NAM in 1973. It tested 11 MMcf/d from a 155 ft (35 m) interval in the Lower Zechstein carbonate sequence. The gas tested from the Zechstein is contains little inert gas and no hydrogen sulfide. Gas also was encountered in the underlying Rotliegend sand formation.

In addition to the gas, a number of undrilled leads have been mapped, and are scheduled to be evaluated. The work program for the near future includes reprocessing of the existing seismic data base and remapping of the acreage.

02/01/2008

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