HIgh Value drill results to follow24 Mar 2014 08:56
I have added another £50k here last week. Solberg and Butch east are both effectively appraisal wells testing the extremeties of the fields already discovered (ie determining how far they stretch). Solberg for Rodriguez and Butch East for the Main butch discovery. I am expecting these any day after some bad weather delays.
Both are high impact. Butch could be a very sizeable development and it is easy to see how Faroe could this year after Pil double its resource base. We also now await the Pil DST and flow test/side track results.
Results tomorrow, I see Faroe (22% owned by Dana Petroleum) as a very low risk exposure to some very high impact North Sea activity. They have some of the success drill bit wise as Tullow oil!