Oil & Gas Corporate News
San Leon Energy (LON:SLE) PLC (BUY, 50p) (SLE LN, 13.75p, ? 7.84%) today announced the successful completion of its first shale gas exploration well in the Baltic Basin. The Talisman Energy operated Lewino 1G-2 well, on the Gdansk W Concession in Poland, has been drilled to 3,600 metres. During drilling continuous gas shows were encountered over more than 1,000 metres in the middle and lower Silurian shales, Ordovician, and upper Cambrian. Gas shows consist of methane (C1) with a small percentage of ethane, propane, butane, and pentane (C2-C5+). Over 310 metres of core were taken in the well to evaluate the rock properties and an extensive open hole logging program was also performed to further evaluate the potential of the area. Evaluation and interpretation of the core and logs is expected to take 3-4 months in preparation for continued operations later in 2012. Following completion of the well for potential future operations Talisman will move the rig to the Braniewo Concession to start drilling the Rogity-1 well, which will be immediately followed by a well in the Szczawno concession. Future operations are expected to include a long offset horizontal and multistage frac.
Encore Oil (LON:EO.) PLC (EO LN, 75.75p, ? 0.33%) today announced the commencement of Drilling Operations on Tudor Rose. The Tudor Rose well 14/30a-5 in Central North Sea block 14/30a was spudded at 14:22 hours on the 16 November 2011. The Encore operated well is being drilled using the Transocean Sedco 704 semi-submersible rig and is being managed by Applied Drilling Technology International (ADTI). The well is expected to take approximately 20 days to complete subject to weather conditions and operational requirements. The Tudor Rose oil accumulation was discovered in 1983 with well 14/30a-2, which encountered an 80 foot oil column within the Tertiary age Beauly Sands, but no representative oil samples were obtained. The current well is being drilled 2.5km from, and at a similar elevation to the discovery well, with the primary objective of establishing the gravity and viscosity of the oil within the Beauly sands, at an approximate depth of 3,200 feet TVDSS (True Vertical Depth Sub-Sea). The licence group comprises EnCore Oil (40 per cent., Operator), Endeavour Energy (20 per cent.), EnQuest (20 per cent.) and Nautical Petroleum (20 per cent.).
Mining News
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