North Sea Energy 15.0%
Maersk Oil North Sea UK Limited 25.0%
Premier Oil plc 37.5%
EnCounter Oil 15.0%
Groliffe Limited 7.5%
• Structurally located on the western margin of the Halibut Host at the eastern extremity of the Inner Moray Firth.
• Two leads have been identified on the block, Bagpuss (Block 13/24c) and Blofeld (Block 13/25). Both are structural closures with an interpreted Lower Cretaceous reservoir.
• The Blofeld lead is a large upthrown structural trap within the Lower Cretaceous Sands of uncertain age encountered in Well 13/24a-2A that lies within the closure.
• The lead lies directly southeast of the Bagpuss structure.
• 1981 Amoco well shows oil in lower Cretaceous sand at 1380 ft with approximately 20-30 ft oil bearing sand. Cuttings show presence of fluid oil.
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North Sea Energy Announces Update on Gemini Arbitration
North Sea Energy Inc. announces that a decision has been rendered by the International Tribunal in the arbitration between Gemini Oil & Gas Fund II, L.P. (“Gemini”), the Company and its subsidiary North Sea Energy (UK) Limited (“NSE UK”).