Nautical spuds second Kraken appraisal well

Nautical Petroleum PLC has spud the second Kraken appraisal well on Block 9/2b in the UK North Sea using the Sedco 704 drilling rig.

Uchenna Izundu
International Editor

LONDON, Sept. 22 -- Nautical Petroleum PLC has spud the second Kraken appraisal well on Block 9/2b in the UK North Sea using the Sedco 704 drilling rig.

The 9/2b-3 well originally was meant to be drilled in spring 2009, and the company plans to submit its field development plan by yearend 2009. Kraken holds estimated in-place resources of 376-1,255 million bbl of oil.

The appraisal will focus on intersecting the oil-water contact and will investigate the Tertiary Heimdal Sandstone distribution. Results are expected in mid-October.

Nautical Chief Executive Steve Jenkins said the identification of the oil-water contact on Kraken would enable the company to refine its geological interpretation of the reservoir and would provide information for development plans.

The work builds upon the first test carried out last November where an oil column of at least 252 ft was encountered in the Palaeocene Heimdal horizon. This well lies 3.3 km east-northeast of the successful 9/2b-2 well and 5 km from the original 9/2-1A discovery well.

Companies holding interests in Block 9/2b include Nautical Petroleum 35%, Canamens Energy North Sea Ltd. 35%, and Celtic Oil Ltd. 30%.

Contact Uchenna Izundu at uchennai@pennwell.com.

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