2016 July 6 17:35

Hurricane Energy spuds Lancaster field well

Hurricane Energy plc, the UK-based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that the 205/21a-7 well on the Lancaster field, West of Shetland, was spudded at approximately 01.35 hrs on 6 July 2016, using the Transocean Spitsbergen drilling rig. The well is located on licence P1368 Central in which Hurricane has a 100% interest, the Company said on Wednesday.
The 205/21a-7 Pilot Well (the "Pilot Well") is the first in a two-well programme designed to refine the Lancaster resource range, provide a second future production well and provide new information to help optimally plan the Lancaster field development.
The Pilot Well's objectives are to:

The Pilot Well will be drilled, extensively logged and tested, then permanently plugged and abandoned by filling with cement. Immediately thereafter the 205/21a-7z 1km Horizontal Sidetrack Well (the "Horizontal Well") is expected to be commenced.

The Horizontal Well's objectives are to:

The combined well operations, referred to as the Lancaster 7 Wells, are expected to last approximately four months after which there will be a period of data analysis. A further announcement will be made in due course.
Dr Robert Trice, CEO of Hurricane, commented: "This is an extremely exciting moment in Hurricane's development as we embark on a drilling programme that will not only complete the remaining well stock required for an Early Production System, but will also help refine our Contingent Resource range for Lancaster - currently 62-456 MMboe - and thereby facilitate a final investment decision and help us better plan for the field development. We look forward to reporting on operations in due course."

About Hurricane
Hurricane Energy plc is an oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs. The Company's focus is to discover, appraise and develop oil reserves in basement rock. Hurricane has already successfully discovered substantial volumes of oil on the UKCS. The Company has 444-470 mmboe of 2C Contingent Resources and 432-442 mmboe of P50 Prospective Resources on acreage it controls 100%.