• Drilling contract signed for Breagh wells in UK Aouthern North Sea
• Stratic (AIM: SE) has 10% interest
• East Breagh well targeting extension of Breagh structure – potential to significantly increase estimated GIIP
Stratic Energy Corporation announces that the operator for the Breagh joint venture has secured the services of the ENSCO 70 jack up rig to complete the planned 2008 drilling operations in Block 42/13 of the UK Southern North Sea. The rig is expected to become available at the conclusion of its current operations in late June to early July. This follows the successful appraisal of the Breagh gas discovery by well 42/13-3 in the fourth quarter of 2007. The rig contract covers at least one well on each of East Breagh and West Breagh. The contract also has the flexibility to permit drilling an additional well if considered necessary, based on the results of this program. The East Breagh well will target a possible extension of the Breagh structure and has the potential to significantly increase the estimated GIIP for the overall structure. The well on West Breagh is planned to prove additional productivity from a high angle well, which will be designed as a future production well.
Stratic’s interest in the relevant licences is 10.0%, and the operator is Sterling Resources Ltd.