North Sea Tyne well finds new gas reservoir

Offshore staff

CALGARY, Canada -- Iona Energy says the 44/18-T6 well drilled from the Tyne gasfield platform in the UK southern North Sea has encountered a gas-filled Carboniferous reservoir section.

The well was drilled as a side track from dormant production well T5 to a location higher up structure and to the north, within the same production compartment. Well T5 had flowed gas at up to 25MMcf/d from a 50-ft (15-m) gas column close to the gas/water contact (GWC), but had been shut in due to water encroachment.

The T6 side track encountered top reservoir 57 ft (17.4 m) higher than T5 and 107 ft. (33 m) above the regional GWC. It was drilled at a high angle through the reservoir and encountered 92 ft (28 m) of gas pay. Pressure testing of the reservoir confirms that T6 is within a different reservoir compartment from the T3 production well.

In the UK northern North Sea, Iona has agreed to sell a 25% interest in its Orlando and Kells fields to Volantis Exploration, a subsidiary of Atlantic Petroleum.

Atlantic has committed to pro-rata funding of the Orlando and Kells developments and will provide necessary financial assurances to the UK's Department of Energy and Climate Change, which should lead to approvals of the field development plans.

Iona continues negotiations with other companies for the sale of an additional 25% interest in both fields.

12/27/2012

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