Newfoundland: Nalcor defers third exploratory well

By OGJ editors
HOUSTON, Feb. 21
– Newfoundland provincial energy firm Nalcor Energy Oil & Gas and its partners have deferred drilling a third planned exploratory well in the Parsons Pond area of western Newfoundland.

The first two wells, Seamus and Finnegan, had gas shows while drilling. Seamus was reentered for tests, the results of which are being evaluated. The third location, Darcy, is between the first two.

Given the partnership’s desire to reevaluate the area’s oil potential, it is deferring the Darcy well, thought to be in a gas-prone area, said partner Vulcan Minerals Inc., St. John’s.

Nalcor has reiterated its commitment to exploration of the Parsons Pond area and said the current evaluation stage will determine the future direction of activities. Vulcan supported the decision on Darcy and advocates increased attention to evaluating shallow oil potential as evidenced by numerous surface oil seeps and oil in shallow historic wells.

Nalcor has an average 67% working interest in three onshore exploration permits. Its partners are Leprechaun Resources Ltd., Deer Lake Oil and Gas Inc., Investcan Energy Corp., and Vulcan Minerals.



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