EnCore updated on the Catcher exploration well located in UK Central North Sea block 28/9.

The 28/9-1 well was drilled to a TD of 5,219 ft Measured Depth (M.D.) having successfully encountered excellent quality oil bearing reservoir sandstones at 4,600ft at the target Cromarty Sandstone level. A potential oil water contact has also been intersected at 4,840ft.

Initial analysis indicates the discovery of a minimum 240ft oil column with calculated net pay of 90ft. Extensive sampling and pressure testing of the hydrocarbon bearing zones have been made and a preliminary analysis suggests the hydrocarbons are a light oil with an API of approximately 31 degrees. Analysis of the logs suggest excellent quality sands with porosity of approximately 34%, although analysis has not yet been completed and it is expected that these sands will have multi Darcy permeability.

EnCore and its partners now plan to perform a Drill Stem Test (DST) with the principal aim of collecting both flow rate characteristics and sufficient oil samples for potential development studies. Testing is expected to take approximately 10 days. Dependent upon the results of the testing, the group plans to drill a side-track to test the Catcher East area, which demonstrates similar seismic characteristics to the Catcher discovery area. Following this, a further side-track generally to the west of the current location is also being considered to better understand reservoir development in this area of the Catcher structure.

EnCore has a 15 percent interest in the well and is operator. Partners on the license are Premier Oil (35 percent), Wintershall (UK North Sea) Limited (20 percent), Nautical Petroleum (15 percent) and Agora Oil & Gas (15 percent).

Alan Booth, EnCore's Chief Executive Officer, commented, "We are delighted to have encountered both an excellent quality reservoir and a significant light oil column in the Catcher structure. To date both the quality of oil recovered and the reservoir quality are significantly better than our pre-drill expectations. Side-tracking into the East Catcher area has the potential to add significant further upside. This is an outstanding result."

Tags: EnCore Oil plc