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EnCore gives Dutch hand in Bowstring


Published Sep 19, 2008
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Sedco 704 semisubmersible

U.K. independent EnCore Oil’s stock price soared 6.25 percent early Friday on news the company has brought in a new partner for operations on two of the company’s North Sea blocks.

Dutch Dyas UK Ltd. agreed to pick up 10 percent of North Sea blocks 210/29a and 210/30a from EnCore, leaving the U.K. indy with 16.6 percent in the license.

Dyas will contribute to the drilling of a well in Block 210/29a at the Bowstring East prospect, also called Cladhan. The Sedco 704 semi-submersible will do the honours.

Sterling Resources operates 210/29a in the northern North Sea with a 30 percent interest. The companies hope the geological “stratigraphic traps” lead to hydrocarbons in the local Jurassic-era standstone.

The Heather, Hudson and Tern fields lie nearby.

Tags: EnCore Oil plc, Sterling Resources




   

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