LONDON (Alliance News) - Petroleum exploration and gas storage company InfraStrata PLC said on Friday wellsite construction has commenced at its Woodburn Forest-1 well in Northern Ireland, as it prepares for drilling.
InfraStrata said drilling of the well is expected to commence in May, adding the well will target three conventional sandstone reservoir intervals: the Triassic Sherwood, Permian Lower Permian Sandstone and Carboniferous Sandstones.
It noted the Woodburn Forest site has estimated prospective resources of 25 million barrels of oil.
"We are pleased that the preparations for the well are underway. If the well encounters petroleum it would confirm the wider prospectivity of the Larne-Lough Neagh Basin within the area licenced to InfraStrata and partners. The directors of InfraStrata believe this in turn would have a very positive impact on the economy of Northern Ireland," said Chief Executive Andrew Hindle.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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