Business
Spud of Copernicus Exploration Well
Spud of Copernicus Exploration Well.
About this update from Seascape Energy Asia Plc
[{"type":"text","content":"\n \n \n 30 August 2022\n \n \n \n Longboat Energy plc \n \n \n \n \n (\"Longboat Energy\", \"Longboat\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Spud of Copernicus Exploration Well\n \n \n \n \n \n \n Longboat Energy, the emerging full-cycle North Sea E&P company,\n is pleased to announce the commencement of drilling operations on the Copernicus exploration well\n (Company 10%) in Norway.\n \n \n \n \n \n \n \n Copernicus is the primary prospect located in license PL1017, which lies on the Utgard High in the Vøring Basin region of the Norwegian Sea.\n \n \n \n The drilling of the Copernicus well 6608/1-1S\n ,\n operated by PGNiG Upstream Norway AS, is being undertaken by the\n Deepsea Yantai\n drilling rig and\n is expected to take up to eight weeks to drill.\n \n \n \n \n \n A further announcement will be made when drilling operations have been completed.\n \n \n Helge Hammer, Chief Executive of Longboat Energy, commented:\n \n \n \"\n We are pleased to commence the drilling of the second of three fully-funded, gas-focused exploration wells, with the drilling of the Oswig well, the first well in the series, also currently underway.\n \n \n \"Longboat Energy's exploration programme offers shareholders a unique opportunity to gain gas weighted drilling exposure\n targeting net mean prospective resource potential of 70 mmboe\n \n \n 1\n \n \n with an upside case of 142 mmboe.\"\n \n \n \n \n \n \n \n \n Notes\n \n \n :\n \n \n \n The information contained within this announcement is not considered to be inside information prior to its release.\n \n \n \n \n 1 \n \n \n \n source: Combination of Operator estimates and ERC Equipoise Competent Person Report using, where appropriate a gas-to-barrel of oil equivalent conversion factor of 5,600 scf/stb\n \n \n \n \n Ends\n \n \n \n \n \n \n \n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Longboat Energy\n \n \n \n \n \n \n \n Helge Hammer, Chief Executive Officer\n \n \n Jon Cooper, Chief Financial Officer\n \n \n Nick Ingrassia, Corporate Development Director\n \n \n \n \n via FTI\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)\n \n \n \n \n \n \n \n Callum Stewart\n \n \n Jason Grossman\n \n \n Simon ...