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Bagpuss drilling results released

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Oilfield Technology,

North Sea Energy Inc. has provided an update to the Bagpuss well results from the Bagpuss Operator, Premier Oil Ltd.

The highlights concerning the Bagpuss prospect include the fact that Bagpuss is a heavy oil discovery and the well results came in on prognosis in terms of the reservoir. The analysis of the geochemistry of the samples collected is on-going. The Bagpuss well was drilled on the Halibut Horst and it was confirmed a significant volume of oil was in place.

While NSE management believes the information regarding the Bagpuss Prospect to be accurate, it will wait until the full technical analysis of the collected data is finalised before commenting on the Bagpuss results.

Finally, the Bagpuss Well, a vertical well, was planned to be an informational well only and in accordance with the original Well Plan it was plugged and abandoned upon completion. Should development of the Bagpuss field take place, it would most likely be done with horizontal wells.

Edited from press release by

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