Business
Colter Side-Track Well Result
Colter Side-Track Well Result.
About this update from Sunda Energy Plc
[{"type":"text","content":"\n \nRNS Number : 2414S Baron Oil PLC 08 March 2019 \n\nMarket Abuse Regulation (MAR) Disclosure\nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n8 March 2019\n \nBaron Oil Plc\n(\"Baron Oil\" or \"the Company\")\n \nResults of well 98/11a-6Z and update on Colter Area Prospects\n \nBaron Oil (AIM: BOIL) has been informed by the Operator (Corallian Energy Limited) that the sidetrack well 98/11a-6Z has encountered the top of the Sherwood Sandstone reservoir below the level of the 98/11-3 oil water contact and did not penetrate the predicted fault bounding the target Colter Prospect. The well will now be plugged and abandoned and the rig released. Baron Oil has an 8% interest in Licence P1918, including the Colter Area Prospects.\nAs previously reported on 25 February 2019, the Colter well (98/11a-6) was drilled as a vertical well with the Ensco-72 jack-up rig and reached a Total Depth of 1870m MD in the Sherwood Sandstone. The well was drilled to appraise the 98/11-3 well, drilled in 1986 by British Gas, within the Colter Prospect. The 98/11a-6 well unexpectedly remained on the southern side of the Colter Prospect bounding fault but encountered oil and gas shows over a 9.4m interval at the top of the Sherwood Sandstone reservoir. A petrophysical evaluation of the LWD data has calculated a net pay of 3m. Similar indications of oil and gas were encountered in the 98/11-1 well, drilled in 1983 by British Gas, within the Colter South fault terrace. Provisional analysis of the new data indicates that the two wells may a share a common oil-water-contact having both intersected the down-dip margin of the Colter South Prospect. The Operator (Corallian Energy Limited) gave its most recent assessment of the Colter South Prospect prior to drilling the 98/11a-6 well at an estimated mean recoverable volume of 15 mmbbls. Further work will be required to refine this assessment with the new well data.\nA decision was made by the Joint Venture to drill a side-track (98/11a-6Z) to the north to evaluate the Colter Prospect. The well has now been drilled to a Total Depth of 1910m MD and encountered the Sherwood Sandstone below the oil-water-contact of the 98/11-3 we...