Tórshavn, Faroe Islands, 2012-10-15 08:00 CEST (GLOBE NEWSWIRE) -- Atlantic Petroleum (OMX: FO-ATLA) announces the spudding of the 15/21(a)-60 Spaniards East exploration well on UK Licence P1655 in the Moray Firth.
The well is being drilled with the Wil Phoenix semi-submersible rig in a water depth of about 460 ft, near to the producing Scott and Telford fields. The well will target Upper Jurassic reservoirs and is expected to take around 41 days to complete.
The well is operated by Premier who holds a 28% interest in the licence. Atlantic Petroleum has a carried 3.25% interest resulting from a farm-in deal negotiated in 2011. Other partners are Cairn Energy, Serica Energy, Parkmead Group, Faroe Petroleum, and Maersk Petroleum.
Ben Arabo, CEO, commented:
“We are very pleased to announce the spud of the Spaniards East well. This is the 3rd well in our on-going 5 exploration and appraisal well program, which started with the Orchid discovery in May 2012.”
Further details can be obtained from Ben Arabo, CEO, tel +298 350100 (email@example.com). This announcement will be available, together with other information about Atlantic Petroleum, on the Company's website: www.petroleum.fo.
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Announcement no. 27/2012
P/F Atlantic Petroleum
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P.O. Box 1228
Telephone +298 350 100
Fax +298 350 101