24/03/2004

'Brenda' North Sea oil find 'significant', says oil company

A Canadian-based oil exploration firm have announced that test drilling at 'Brenda' in the North Sea has revealed a "significant" find.

Analysis of the flow from the Paleocene Forties sandstone in the Outer Moray Forth during production testing operations produced no water or sand during the test period, said Oilexco.

The results from the second appraisal well, the first was originally made in 1990, indicate the find is better than thought with the 'Brenda' oil find described as a "potentially significant stratigraphic trap".

Additional appraisal locations identified by Oilexco from seismic interpretation will define the limits and reserves of the 'Brenda' oil accumulation, but it is hoped that this may yield 150 million barrels of oil.

Drilling on the first of these additional appraisal locations, the fourth well of Oilexco’s UK North Sea drilling program, will commence on the first week of April.

On completion of the initial appraisal programme, drilling operations on additional appraisal wells at 'Brenda' are planned to recommence in July. Following this work a better picture of the extent of the find will be known.

(SP)

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