Interim Well Update – Completion of Lincoln Well Operations
20 December 2016
Hurricane announces that the Company has completed the drilling and logging phase of the 205/26b-A well (the “Lincoln Well”). The information communicated below relating to the Lincoln Well is preliminary and will be updated following detailed analysis once the final well data and third party reports have been received and analysed.
The Company is delighted to announce that the Lincoln operations have resulted in a significant fractured basement discovery; the key headlines of which include:
The Lincoln Well was planned to exclude testing, and the well is now being plugged and abandoned ahead of the Transocean Spitsbergen drilling rig being demobilised from the Lincoln Well. A further announcement will be made once weather and sea state conditions have allowed for the rig to move to the Halifax well location and for the well to be spudded.
Dr Robert Trice, CEO of Hurricane, commented:
“I am delighted that, at the end of an extraordinary year for Hurricane, the Lincoln Well has discovered a significant oil column outside structural closure on our Greater Lancaster Area acreage. Our initial assessment of the drilling results will be subject to refinement by analysis of wireline and sidewall core data, however, current analysis indicates that our pre-drill resource assessments – which were constrained by the oil down to in the Arco Well – of approximately 250 million barrels of recoverable oil for the Lincoln prospect may be conservative.
I look forward to Hurricane’s imminent operations on the hugely important Halifax well and to simultaneously progressing towards the sanction of the Lancaster Early Production System in H1 2017.”
Hurricane – press release