Reabold said that as part of Corallian Energy’s two well offshore UK drilling campaign, the ENSCO-72 jack-up rig has been mobilized from Hartlepool to drill the Wick exploration well in UKCS Block 11/24b (Licence P2235).
The Wick exploration well will test a high relief sub-surface structure which Corallian, the operator of the licence, estimates to contain Mean Prospective Resources of 26 million barrels of oil equivalent.
Reabold holds its interest in both the Wick and Colter prospects through its 32.9 per cent equity interest in Corallian.
Reabold Resources co-CEO Stephen Williams said: “We are delighted that the Ensco-72 has now been mobilised for the drilling of the Wick exploration target, which will be followed by the Colter well. This is an exciting time for Reabold shareholders with a high impact drilling campaign commencing across our North Sea and South of England projects.”
Source: Company Press Release