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Hurricane confirms significant find

By BFN News | 08:30 AM | Monday 27 March, 2017


Hurricane Energy has confirmed a find which indicated the largest undeveloped discovery on the UK Continental Shelf. It said that initial data analysis indicated the Halifax well was linked to the Lancaster field forming a single large hydrocarbon accumulation. Itg said the principal purpose of the Halifax well was to support the company's view that the Lancaster field and the Halifax prospect were one large connected structure. Igt said: "Well results support the company's opinion. "The Halifax Well has successfully identified an extensive oil column, significantly below local structural closure. "The reservoir interval encountered is pervasively fractured with porosities similar to those at Lancaster. "The company believes that the deeper oil down to at 1,846m true vertical depth subsea ( identified in the Halifax Well, compared with an oil water contact at Lancaster at 1,678m TVDSS, is most likely caused by a tilted OWC." It said preliminary third party analysis from the Halifax well indicated: - a very significant hydrocarbon column of at least 1,156 metres was present within the basement extending well below local structural closure (which is at 1,040 metres TVDSS); - that the basement reservoir below the final casing point (1,179m TVDSS) was pervasively fractured (based on initial analysis of borehole image logs processing) - that porosity is consistent with that at Lancaster (based on initial petrophysical analysis. At 8:30am: (LON:HUR) Hurricane Energy Plc Ord 0.1p share price was +4.75p at 59p Story provided by StockMarketWire.com

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