The exploration well 17/6-1 on the Svaneøgle Prospect has reached its total depth of 3065 m, and will now be plugged and abandoned. A comprehensive data acquisition program including fluid sampling has proven mobile oil in low quality reservoir sandstones.

The objective of the well was to prove hydrocarbons in the middle Jurassic Sandnes and Bryne Formations. The main uncertainty prior to drilling was the presence of a mature source rock in the Stord basin. The well proved mobile oil in a low quality Sandnes Formation reservoir, while the better quality Bryne Fm reservoir proved water bearing.

The Svaneøgle discovery is considered to be non-commercial, however having proven the presence of a mature source rock in this part of the Stord Basin could potentially prove up other prospectivity in the area once all results from the Svaneøgle well has been fully evaluated.

The well is operated by Noreco on behalf of the PL 545 license group using the rig West Alpha.

Spring Energy has a 30 % working interest in the license.

Since operations started in 2008, Spring Energy has participated in six wells on the NCS, resulting in the successful Bream appraisal well (with 2 horizontal sidetracks), as well as the Grosbeak, Beta and Maria discoveries in PL 378, PL 375 and PL475BS. These discoveries have added significant value, as demonstrated through the sale of the Grosbeak and Beta discoveries to Talisman in the autumn of 2010.

Spring Energy is currently undertaking a very active exploration and appraisal drilling programme and plan to participate in at least five additional wells over the next twelve months.

Tags: Spring Energy