Operations are continuing on the Romeo (Licence P.1666, Block 30/11c) exploration prospect (“Romeo”), Trapoil, which owns 12.5 per cent carried interest has informed.
Romeo is a four-way dip closure mapped at Base Cretaceous Unconformity with Fulmar sands as the reservoir objective, and with best estimate gross prospective resources for the entire prospect of approximately 44 million barrels of oil equivalent (“mmboe”) (3.3mmboe net to Trapoil unaudited estimate by Trapoil’s management). The well is being drilled by the Awilco WilHunter rig and has suffered operational and weather related delays.
As a consequence, the well is currently some 16 days behind schedule. The well is still drilling to an estimated total depth of 15,180 feet Measured Depth Below Rotary Table (“MDBRT”) or 15,095 feet True Vertical Depth Sub Sea (“TVDSS”).
The partners in Licence P.1666 are Suncor Energy UK Limited (50.625 per cent., operator), Norwegian Energy Company UK Limited (21.875 per cent.), First Oil and Gas Limited (15.0 per cent.) and Trapoil (12.5 per cent.). Trapoil’s 12.5 per cent is a fully carried interest in the P.1666 Licence and as such Trapoil is fully carried in the Romeo well.
The well is being drilled as a joint well with Licence P.1816 (Block 29/15a) operated by Total E&P UK Limited (100 per cent.).
Press Release, December 27, 2012