Drilling of the Dunquin North exploration well has now been completed

26 July 2013

The preliminary interpretation indicates the reservoir to be water bearing with evidence of a possible residual oil column

SOSINA hereby confirm that the drilling activities on the 44/23-1 Dunquin North exploration well in Frontier Exploration Licence (FEL) 3/04 have now been completed. The well is located in c. 1,700 m water depths and is c. 170 km off the south-west coast of Ireland. ExxonMobil Exploration and Production Ireland (Offshore) Limited (25.5%) operates FEL 3/04 on behalf of its partners, Eni Ireland B.V. (27.5%), Repsol, Exploracion Irlanda, S.A. (25%), Providence Resources P.l.c. (16.0% interest), Atlantic Petroleum (Ireland) Limited (4.0%) and SOSINA Exploration Limited (2.0%).

 

Drilling operations on the Dunquin North exploration well, which is situated on the northern flank of a c. 700 sq km intra-basinal ridge system in the southern Porcupine Basin, commenced on April 23rd, 2013 and were completed on 15th July 2013 having reached a final total depth of c. 16,400 feet MDBRT. The primary Lower Cretaceous Dunquin target was encountered within the pre-drill depth prognosis and comprised a thick over pressured carbonate reservoir system. The well was terminated having drilled a total thickness of c. 800 feet of massive porous carbonate reservoir.

 

Preliminary well analysis indicates the reservoir to be water bearing. However, petrophysical log interpretation, elevated gas levels, together with oil shows in sidewall cores over the upper 144 feet section of the reservoir, suggest the presence of a possible residual oil column. In accordance with the pre-drill plans, and following a comprehensive data acquisition programme, the well is being plugged and abandoned and the rig demobilized out of Irish waters. There are no current plans for any further well data to be released due to its potential commercial sensitivity.

Contact:

Mr. John Ødegaard, Chairman of the Board Tel: +45 35 31 10 03 Mobile: +45 27 26 00 03

 

 

 

 

 

 

 

About SOSINA

SOSINA Exploration Ltd. is an independent oil and gas exploration company. The Company was founded in 2004, but with roots back as a sister company to the company Odegaard Ltd. acquired in 2006 by Schlumberger Inc.

SOSINA's active oil and gas portfolio includes offshore interests in Ireland and the UK. SOSINA's portfolio is balanced between appraisal and exploration assets. Comprehensive information on SOSINA and its oil and gas portfolio is available from SOSINA's website at www.sosina.co.uk.