19 December 2007
Don South West appraisal well suspended
Development drilling in 2008 with first production in 2009
Valiant Petroleum is pleased to announce that the appraisal well on Don SW has been suspended and will be sidetracked in Q2 2008 following analysis of the drilling results.
Three reservoir intervals were pentrated in the well including the upper Brent section, the Statfjord and the Cormorant. All three reservoirs have been confirmed by wireline logs to be oil bearing. The Brent appears to be in pressure communication with the main Don SW field. However, the middle and lower Brent reservoir is missing in the well and early indication suggest the well penetrated a fault. A sidetrack will be drilled to fully test the entire Brent sequence at this location when more confidence has been gained on the geometry of the fault.
In addition, the John Shaw drilling rig has been contracted to drill the development wells on Don SW commencing in April 2008. This will enable production to commence in 2009.
Commenting on the well results, Peter Buchanan said:
"The appraisal well has confirmed the extension of the Don SW field to the west of the main field and has proven up a potential new reservoir system in the Statfjord and Cormorant sands. These results give us more confidence about the further extension of the field into neighbouring compartments that remain as yet untested. We will be seeking to further appraise the upside in the area during the course of next year.
We now look forward to working with Petrofac, the field operator to bring the field on stream as soon as possible".
For further information, please contact:
Valiant Petroleum Limited
www.valiant-petroleum.com
Peter Buchanan, Chief Executive Officer
Steve Edgley, Finance Director
+44 (0)1483 755 666
Aquila Financial Limited
www.aquila-financial.com
Peter Reilly
+44 (0) 20 7202 2601
Notes to editors:
Valiant Petroleum is a privately-owned UK company pursuing a strategy to build an asset base in the North Sea, in particular around the Greater Don Area. Current assets include UK North Sea Blocks 211/17, 211/18a, 211/18c, 211/11a (West Magnus), 211/22aSE and 211/23d (Causeway) and 9/28a (Crawford), all of which are located close to each other in the northern North Sea and are within reach of existing infrastructure.
Valiant owns 40% of the Don South West field, with the operator, Petrofac owning 60%.
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