Atlantic Petroleum (OMX: FO-ATLA) today announced that the 49/30b-10 well targeting the Foxtrot prospect reached its total depth of 5855' (measured depth) on the 20th August. The well targeted the Upper Bunter sandstone formation. However, these sands were found to be water wet. The well has been suspended for later re-entry pending the evaluation of a deeper Rotliegend play.
Ben Arabo CEO of Atlantic Petroleum commented: "The Foxtrot well was the first of a firm four well exploration programme spread over the next twelve months. Naturally we are disappointed with the results of the well but we are encouraged that the operator Tullow Oil recognises the potential of a deeper play. The next well in Atlantic Petroleum's planned exploration and appraisal well programme is the UK P.1556 Block 29/1c Orchid well operated by Summit which is expected to be spudded in the fourth quarter of 2011. Atlantic Petroleum holds a 10% working interest in the Orchid well."
This article is for information and discussion purposes only and does not form a recommendation
to invest or otherwise. The value of an investment may fall. The investments referred to in this
article may not be suitable for all investors, and if in doubt, an investor should seek advice from
a qualified investment adviser. More
Related Companies