DOW JONES NEWSWIRES
StatoilHydro Petroleum, operator of production licence 393, said Friday the original resource estimate at well 7125/4-2 might be revised downwards.
Main Facts:
* It is too early to estimate the size of the discovery, but preliminary calculations indicate that the original resource estimate of 6M-12M standard cubic metres must be adjusted downward.
* The objective of well 7125/4-2 was to delineate the oil/gas discovery and to examine a different part of the structure.
* The well proved a small oil column in Triassic sandstones. The oil-bearing strata were thin, but did exhibit good reservoir properties.
* Evaluations and analyses will be carried out to clarify the size and extent of the discovery.
* The well will now be permanently plugged and abandoned.
* The well was drilled using the semi-submersible drilling facility Polar Pioneer, which will now proceed to production licence 228 to drill appraisal well 7223/5-1, operated by StatoilHydro Petroleum.
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