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Gold/Mining/Energy : Sodra Petroleum
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To: Astarte who wrote (60)9/4/1998 1:33:00 PM
From: Greywolf   of 133
 
Shell Exploration Offshore Falklands

Issued September 4 1998

Shell Petroleum Development Ltd. (Falklands Branch) as Operator of Tranche 'B' offshore The Falkland Islands, in partnership with ENI - AGIP, plan to start drilling a
second exploration well in the fourth quarter 1998. The partnership recently completed its first offshore exploration well, Sebald-1A, where they encountered
hydrocarbon indications at various levels, but not in commercial quantities. The well will be plugged back and abandoned. Sebald-1A was spudded on July 5 by the
semi-submersible drilling rig Borgny Dolphin in 464 metres water depth. The final total depth of this vertical well was 4,525 metres. It was reached on August 31 after
57 days of drilling. As such, Sebald-1A represents one of the deepest, offshore well ever drilled in the South Atlantic.

Greywolf note: So here it is then after the long wait comes the press release taken from SHELL's site at shell.com Ofcourse a gusher of oil would have been nice but then after 3 drill's you have
to say this is positive. LASMO is the only driller that has not to date found traces or indications of hydrocarbons other than that both Amerada Hess's and
SHELL's exploratory well's must be seen as good step's forward. If anyone thought this was going to be easy well that's just not the way oil drilling work's.
That two sites have established hydrocarbons and in SHELL's case at different levels is very good I would have to say. That SHELL right of the bat also
indicates it will drill a second time is very good and I may be reading to much into it but it I get the impression from the release that it's go and dont look
back. A second drilling has always been on the card's yet not totally secure. Hydrocarbons are fine and there is a lot of results that they have that we will not
see, even if we will try even harder now... SODRA now has a lot of data to go on as will all as the project progresses. Hydrocarbons are good and that they are apparent at different levels indicates that there are oil bearing structures as with the North Sea all they now have to do is to find it. Interesting is also the fact that SHELL drilled at such a depth I would venture to guess that SHELL are at the same time testing their own expertice and technology at depth's few have drilled at before. With the company stating that is going to center on the region I would say they want to know if they can as north of the Falklands is rather shallow compared to regions closer to the Antarctic..So Hydrocarbons are fine...Yet oil would have been better but
thats the oil business....
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