2012-10-11 08:16:13 -
Stavanger, 11 October 2012: Drilling of exploration well 6201/11-3 in licence
PL519 has been completed. The well targeted the Albert prospect, located 65 km
northwest of the Snorre Field in the northern North Sea, offshore Norway.
The main objective of well 6201/11-3 was to test Cretaceous and Triassic age
sandstones in a multiple target structure.
The well encountered oil in a thin Cretaceous reservoir sequence at the
predicted level for the primary target. The uncertain distribution of this
reservoir does not give a basis for resource estimation at this stage. Further
geophysical and geological studies will aim to clarify the potential in the
discovery. The Triassic secondary reservoir was tight without movable
hydrocarbons. A minor column of movable hydrocarbons was encountered in a
Palaeocene reservoir.
Noreco has 20 percent interest in PL519. Lundin
Petroleum is the operator with
40 percent interest, while Bayerngas Norge and Spring Energy each have 20
percent interest.
Contact:
Einar Gjelsvik, CEO (+47 992 83 856)
Kjetil Bakken, VP Investor Relations (+47 91 889 889)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
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originality of the information contained therein.
Source: NORECO via Thomson Reuters ONE
[HUG#1648201]
