Wintershall Group Begins Monterey Appraisal

Friday, September 22, 2006

Black Rock as a partner has announced that drilling of the 49/8c-4 well in the Monterey Gas Field of the Southern Gas Basin, UK North Sea commenced this week using the Noble Kolskaya. The Monterey Gas Field is estimated to contain 165 billion cubic feet of reserves and the well will appraise the commerciality of the field.

Operated by Wintershall, the Monterey appraisal well will take approximately 53 days to drill to a total depth of approximately 4,020 metres. If tested, it is estimated that it will take an additional 20 days to complete the well. The water depth in this location is about 35 metres. Discovered in 1989, the field is located approximately 15 kilometres west of the Windermere gas platform and south of the Schooner and Ketch gas fields.

The initial well, 49/8-2, intersected a 300 foot gross gas column reservoired in Carboniferous sandstones. Despite severe formation damage in the original well, it flowed gas on test at a rate of 5 million cubic feet per day.


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