EnCore Oil plc (LSE: EO.) is pleased to announce that a rig contract has been signed to enable further drilling to take place in UKCS Central North Sea Block 28/9, where the Catcher discovery was made in June this year.
The Transocean Galaxy II heavy duty jack-up rig is expected to return to the Catcher area later this week to drill up to four exploration and appraisal wells. The first well in the programme is on the Varadero exploration prospect situated to the west of the Catcher discovery.
Commenting on the rig contract, Alan Booth, EnCore’s Chief Executive Officer said:
“We are delighted that the rig contract has been signed and we have a firm timeframe for further drilling in the Catcher area. The team has done a significant amount of work to enable further exploration and appraisal of the block in such a short timeframe. We remain excited about the upside potential of the Catcher area which we hope will be better understood in the coming weeks and months.”
The equity in the Catcher / Block 28/9 joint venture partnership is as follows: EnCore Oil plc (15 per cent., Operator), Premier Oil (35 per cent.), Wintershall (UK North Sea) Limited (20 per cent.), Nautical Petroleum (15 per cent.) and Agora Oil & Gas (15 per cent.).
For further information, please contact:
EnCore Oil plc
Alan Booth, Chief Executive Officer
+44 (0)20 7224 4546
Eugene Whyms, Chief Financial Officer
Yvonne Fraser, Investor Relations Manager
+44 (0)7957 241 408
Westhouse Securities Limited
+44 (0) 20 7601 6100