Trapoil farms into Athena in North Sea

Offshore staff

LONDON -- Trapoil has completed acquisition of a 15% stake in the Athena field in the UK central North Sea.

The company estimates remaining recoverable reserves in the low to mid tens of million barrels, with the ultimate total dependent on the recovery factor following the anticipated increase in water production.

Output is currently steady at 11,000 b/d of oil with no water production.

On UK license P.1666, block 30/11c, Trapoil is participating in a current well operated by Suncor Energy on the Romeo prospect.

This a four-way dip closure mapped at base Cretaceous unconformity with Fulmar sands as the reservoir objective, and prospective resources of 44 MMboe.

However, the drilling rig Awilco WilHunter has encountered operational and weather-related delays, putting the well 16 days behind schedule.

It is still drilling to an estimated TD of 15,180 ft (4,627 m) measured depth below rotary table.

Operations are being performed jointly with block 29/15a operator Total E&P UK.

12/27/2012

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