Corallian Energy started drilling the Wick exploration well located in License P2235 off the UK on Tuesday, December 25, 2018.
Corallian is the operator of License P2235 and Baron Oil is one of its partners with a 15% working interest. The Wick well, 11/24b-4, is being drilled using the Ensco 72 jack-up drilling rig which was mobilized to the well location earlier in December.
Announcing the start of the drilling, Baron said on Thursday that the Ensco 72 drilling rig will be on location for approximately three weeks.
Malcolm Butler, Chairman and CEO of Baron, commented: “These are exciting times for Baron Oil shareholders, as our two-well drilling program gets underway. The results of the high-impact Wick well should be known next month.
“With gross, unrisked, recoverable mean Prospective Resources of 26 million barrels of oil equivalent, estimated to be present in this part of the Wick structural complex by Corallian, success with this well will have a material impact on the value of the company.
“Following the drilling of the Wick well, the Ensco 72 jack-up rig is planned to be moved to the English Channel to drill the Colter well.”
The Colter well is scheduled to be drilled in 1Q 2019. It will appraise a historic discovery that lies immediately to the south of Europe’s largest onshore oil field at Wytch Farm.