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Gold/Mining/Energy : Sodra Petroleum
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To: Greywolf who wrote (27)7/9/1998 5:04:00 PM
From: Greywolf  Read Replies (1) of 133
 
July/August 1998 Newsletter

Progress with the Exploration Drilling Programme

Amerada Hess completed work on the first well to be drilled in the North Falkland Basin in tranche A on 27 May. Well 14/09-1, which was spudded on 27 April encountered
traces of hydrocarbons. Appraisal showed that these were not present in commercial quantities and the well was plugged and abandoned. LASMO International Limited
spudded well 14/13-1 on 6 June, and, after penetrating potential reservoir formations, did not encounter hydrocarbons. The well was completed by the end of June. The
Borgny Dolphin semi-submersible drilling rig will move to tranche B next and drill Shell's well, Sebald-A (14/5-A). The well is expected to take six to seven weeks to
complete. IPC will take over the rig after Shell and drill in tranche F.

The drilling programme is progressing well due to good logistical planning by FOSA and Stanley/CSM and excellent weather conditions since the rig arrived in Falklands'
waters. The geological data gained from each well are providing the companies and the Falkland Islands Government with a wealth of information and will lead to a fuller
understanding of the basin. The Falkland Islands Government, following advice from operators, never anticipated speedy results and it is expected that it will be some time
before any conclusions can be drawn from these early exploration wells.
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