Falklands : Dissappointing Show for Falklands' Liz Prospect
Submitted by Falkland Islands News Network (Juanita Brock) 29.03.2010 (Article Archived on 12.04.2010)
Subsequent logging operations show that oil may be present in thin intervals but that reservoir quality is poor.
DISAPPOINTING SHOW FOR FALKLANDS’ LIZ PROSPECT
By J. Brock (FINN)
Desire Petroleum has announced that the Liz 14/19-1 well, in the North Falkland Basin, has reached a depth of 3570 metres and logging is underway and that the primary Liz target was encountered at around 2550 metres with indications of hydrocarbons while drilling.
Subsequent logging operations show that oil may be present in thin intervals but that reservoir quality is poor.
Testing is not complete because wireline sampling is still to be carried out. The RNS press release goes on to say that deeper gas shows have also been encountered while drilling, particularly below 3400 metres and these have still to be evaluated by wireline logging and sampling.
It will not be possible to determine the significance of the hydrocarbons encountered and whether the well will need to be drilled deeper, suspended for testing or plugged and abandoned until the logging is complete and the results analysed.
Operations should be completed later this week when a full announcement will be made.
Upon release from Liz, the Ocean Guardian drilling rig will relocate to drill the Sea Lion 14/10-B Exploration well (100% Rockhopper) on the western margin of the North Falkland Basin.
Related Links:
http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10428936
http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10428946
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