Canadian oil outfit Antrim Energy hit an all time best today as it announced that drilling has been completed on the Antrim-operated East Causeway well, UK North Sea, in which it has a 65.5% interest.
AIM-listed Antrim said the 211/23d-17z well has been cased for production and a testing program is expected to start later this week.
Well data received to date indicate that the well intersected approximately 1,185 ft of net oil-bearing sandstone representing 57 ft net vertical thickness of potential reservoir.
Several oil-bearing sandstone intervals were encountered, each interval demonstrating ”excellent” reservoir quality on log analysis with an average porosity value of approximately 20%.
The 23d-17z testing program is expected to take at least 14 days, the group said.