Enterprise Oil PLC
22 February 2001
For immediate release: Thursday, 22 February, 2001
Enterprise successfully appraises North Sea oil discovery
Enterprise Oil has today announced the successful conclusion of appraisal
drilling on the Howe prospect in the UK North Sea.
The Enterprise-operated well 22/12a-8 has completed the appraisal of the Howe
oil discovery in the Central Graben of the North Sea, 12 kilometres from the
company's Nelson field. The well encountered 161 feet of Upper Jurassic Fulmar
reservoir section, the uppermost 83 feet being oil bearing. All of the
principal objectives of this well have been met, including encountering a
clear oil water contact. The well data is now being analysed to confirm the
size of the discovery. Preliminary estimates of in place hydrocarbons indicate
a range of between 30 and 55 million barrels. The well is to be suspended as a
potential future production or water injection well.
Enterprise holds a 60 per cent interest in the Howe field, with partners
Intrepid and OMV (U.K.) Limited each holding 20 per cent.
Peter Kallos, General Manager UK, commented: 'We are committed to developing
our UK business and discoveries such as Howe are a vital part of that aim. Our
operated Cook field demonstrates the potential of small satellite fields, and
we will now evaluate the results of this well to determine our future plans
for Howe.'
Ends.
For further information please contact:
Karen Leadbitter, Exploration Manager UK 01224 286 590
Peter Reilly, Head of Investor Relations 020 7925 4476
Sucharita Sethi, Public Relations Officer 020 7925 4160
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