Romania: Sterling spuds first of two Black Sea wildcats

Sterling Resources Ltd., Calgary, said its Midia Resources Ltd. subsidiary has spudded the Ioana-1 wildcat on the Ioana gas prospect on Block 15 Midia in the Black Sea offshore Romania.

The well to be drilled to 1,600 m in 91 m of water by the Grup Servicii Petroliere SA GSP Jupiter cantilever jack-up. It targets the Mid-Pontian sandstone.

After drilling Ioana-1, the rig will move 70 km north to drill Eugenia-1 in oil-prone Block 13 Pelican to 2,300 m in 55 m of water. It will be the first well on the block.

Objectives at Eugenia-1 are the shallower Oligocene, a new play in the area, and the Eocene and Upper Cretaceous. OMV Petrom’s nearby Lebada field complex is believed to be producing from reservoirs in both the Eocene and Upper Cretaceous intervals.

Midia Resources operates both blocks. Approved joint venture partners are Petro Ventures Europe BV 20% and Gas Plus International BV 15%.

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