SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : KERM'S KORNER
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Kerm Yerman who wrote (9216)2/24/1998 3:09:00 PM
From: Herb Duncan  Read Replies (9) of 15196
 
FIELD ACTIVITIES / Sands Petroleum AB: Drill Rig Mobilized to
Falkland Islands

TSE SYMBOL: SPB
NASDAQ SYMBOL: SANPY

FEBRUARY 24, 1998



VANCOUVER, BRITISH COLUMBIA--Sands Petroleum AB ("Sands") is
pleased to announce that the "Borgny Dolphin" semi-submersible
drilling rig has been mobilized from the North Sea and is expected
to arrive in the Falkland Islands in early May. Several large,
well-defined prospects exist on the Company's 6 blocks (Tranche F)
offshore the Falkland Islands.

The drilling rig will be shared with 3 other licence holders in
the area. Sands' first of two exploration wells is expected to be
spudded in October, 1998. The other 3 licence holders will drill
their first wells ahead of Sands starting with Amerada Hess as
soon as the rig arrives.

Tranche F comprises an area of 1,600 square kilometres and is
situated in the North Falkland Basin. Geologically, the North
Falkland Basin is similar to the North Sea and is one of the few
large sedimentary basins that has not yet been explored for oil.

To date, the Company has acquired 2,625 line kilometres of
existing seismic data and 1,600 line kilometres of new seismic
data. Several potential reservoir sequences have been identified
and include syn- rift sandstones of mainly Jurassic and Lower
Cretaceous age; post- rift sandstones and reefal carbonates of
Valanginian to Albian age; and others. Various source rock
intervals are thought to be present in the Jurassic-Cretaceous
sequence and modeling has shown these intervals to be mature for
oil and gas. Numerous structures are present in the area
including fault-bounded three-way dip-closed structures at the
Jurassic and Lower Cretaceous levels.

Sands holds a 100 percent interest in Tranche F.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News