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Parkmead says Pharos exploration well starts drilling

By BFN News | 07:35 AM | Tuesday 01 October, 2013


The Parkmead Group said the Pharos exploration well has started drilling in the UK Southern North Sea. The Pharos gas prospect has the potential to contain up to 500 billion cubic feet of gas-in-place (86 million barrels on an oil equivalent basis) and is located in Blocks 47/4d, 47/5d and 47/10c. The Pharos structure is located only 14km south west of Parkmead's Platypus gas field, which was discovered in 2010 and successfully appraised with a horizontal well in 2012. Pharos is mapped as a much larger structure than Platypus and has the potential to contain almost three times more gas-in-place than the targeted amount at the successful Platypus discovery. Story provided by StockMarketWire.com

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