Transocean Prospect semisubmersible drilling rig spud Valiant well Globe
Valiant Petroleum is pleased to announce it has commenced drilling of its first operated exploration well on the Globe prospect in UK North Sea blocks 9/22 & 9/23c.Globe spud on 24 May 2008 following the arrival of the Transocean Prospect semisubmersible drilling rig. The Globe prospect, a four way dip structure, is anticipated to take around 18 days to reach its primary target. The well will also intersect the Roebuck prospect, a secondary, stratigraphic target in a shallower horizon.
Valiant will operate the exploration well with a 50% interest on behalf of the field partners; Granby Enterprises (a wholly owned subsidiary of Silverstone CNS Limited) (25%) and Century Exploration (UK) Limited (25%).
Peter Buchanan, Valiant Petroleum’s Chief Executive Officer, commented:
“The drilling of Globe as our first operated exploration well is an exciting start to the company's exploration plans as set out at the time of listing on AIM in March 2008.”
In accordance with the AIM Rules, the information in this announcement has been reviewed and signed off by Brian Elliot, Operations Director, who has over 20 years relevant experience within the sector.
