By Benjamin Chiou
Date: Wednesday 01 Feb 2012
LONDON (ShareCast) - AIM-listed hydrocarbon explorer Borders & Southern (B&S) says that the exploration well 61/17-1, south of the Falklands, was spudded yesterday.
The well, which is the first of a two-well exploration programme on licence PL018, is designed to test the Darwin East prospect, "a fault / dip closed structure with a Lower Cretaceous sandstone reservoir target".
"The well will investigate geophysical attributes that include a flat spot, amplitude conformance to structure and an AVO anomaly," B&S said.
Operations are expected to take around 45 days and the group says it will make a further announcement once the well has reached total depth and the interpretation of wireline logs has been completed.
Shares rose 2.95% to 69.75p in early trading.
BC
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Currency | UK Pounds |
Share Price | 2.58p |
Change Today | -0.040p |
% Change | -1.53 % |
52 Week High | 3.10 |
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Price Trend |
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