EDR.L Regulatory News (EDR)

10 Nov 2005 08:00

Oil Quest Resources PLC10 November 2005 OIL QUEST RESOURCES PLC UK Onshore Drilling Programme The Directors of Oil Quest Resources plc ("Oil Quest") are pleased to announcethat they have been informed by the Operator, Egdon Resources Plc, that thedrilling of the Kirkleatham-4 well on PEDL 068 in the Cleveland Basin, in whichOil Quest holds a 20 per cent. interest, is expected to commence during December2005 following completion of Egdon's Waddock Cross-3 well. The Kirkleatham prospect is located beneath and to the west of the town ofRedcar in Cleveland. The structure was originally tested by two wells in themid 1940s, with testing producing sub-commercial gas-flows in both wells fromPermian age Zechstein carbonates. Seismic data shows the potential to applymodern drilling and completion techniques up-dip of both wells. TheKirkleatham-4 exploration well will test for the presence of an effective gasreservoir in this up-dip area of the structure. Kirkleatham-4 will be drilledas a vertical well to a prognosed depth of 900 m and is anticipated to take 15days to drill. Following completion of the Kirkleatham-4 well, the Westerdale-1 explorationwell, in which Oil Quest also holds a 20 per cent. interest, will be drilled.Westerdale-1 is designed to test an accumulation 50.5 m updip and 3.7 km to thenorth of the Ralph Cross-1 gas discovery made by Home Oil Limited in 1966.Ralph Cross-1 tested gas at flow rates of up to 6 MMcfgd from a 20.5 m gascolumn in fractured Zechstein carbonates. The PEDL068 group believes thatbetter positioning, completion and management of a well within the prospectcould produce a significant and sustainable commercial gas flow. Additionalreservoir objectives are present in the Westerdale-1 well both within theZechstein and in the underlying Carboniferous sequences. Westerdale-1 will bedirectionally drilled to a total depth of around 1,250 m and will takeapproximately 21 days to drill. Enquiries: David Bramhill Dominic Barretto / Maxine BarnesOil Quest Resources plc Bishopsgate Communications Ltd+44 (0) 117 957 3666 +44 (0) 20 7430 1600office@oilquest.net dominic@bishopsgatecommunications.comwww.oilquest.net Tim FeatherWesthouse Securities LLP+44 (0)161 838 9140tim.feather@westhousesecurities.com This information is provided by RNS The company news service from the London Stock Exchange