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Netherlands: Fourth quarter appraisal well planned

Petro Ventures Netherlands BV, subsidiary of a private Western Australia-based explorer, has joined a group led by a unit of Sterling Resources Ltd., Calgary, that plans to drill an appraisal well in the Netherlands North Sea in the fourth quarter of 2011.

Subject to approvals, Petro Ventures will take half of Sterling’s 50% interest in the shallow parts of the F14, F16, F17a, and F18 blocks in the F-Quad and the L01b block in the L-Quad sector. The blocks, 80 km offshore in 45 m of water, total 1,550 sq km and contain four oil discoveries. The appraisal well is set for Block F17.

Sterling remains operator with 25%. Other participants are Energie Beheer Nederland BV 40% and Enquest PLC’s Grove Energy Ltd. unit 10%.


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