UK

By OGJ editors
HOUSTON, Dec. 6 – Canadian Overseas Petroleum Ltd. took a farmout from Faroe Petroleum PLC and will drill an exploratory well on the Fulla prospect on the West of Shetland P.1161 license in 2011.

The license covers blocks 206/5a and 10a on the Atlantic margin 10 km northeast of Clair field, which is producing 30,000-50,000 b/d of oil. The license contains the Freya discovery and Fulla prospect.

Freya was discovered in 1980 by the 206/10a-1 well, which encountered 475 ft of oil-bearing Devonian Clair reservoir sands. A drillstem test was run but oil did not flow to surface, and the oil quality in Freya and Fulla remains a key uncertainty. Fulla is in less than 150 m of water.

Faroe Petroleum made the Glenlivet and Tornado discoveries in the west of Shetlands area in 2009 and holds substantial acreage in the province.