29 Jan 2009 12:51
Endeavour Announces Successful Flow Test From Rochelle Appraisal Well in the
United Kingdom
LONDON, Jan. 29 -- Endeavour International Corporation today announced that drill stem testing of the Rochelle appraisal well 15/27-11 has achieved flow rates of 41 million cubic feet of gas per day and 2,300 barrels of oil condensate per day from a 72/64-inch fixed choke. This highly successful test confirms the commerciality of the undeveloped Rochelle discovery in Block 15/27 located in the United Kingdom sector of the North Sea.
The rates were achieved from a limited 20-foot interval at the top of the 77-foot net pay in the Lower Cretaceous Kopervik sandstone. Endeavour holds a 55.6 percent interest in the well and is operator for the block. Nexen Petroleum U.K. Limited is a joint venture participant and holds 44.4 percent interest.
"This is a major milestone in the growth of our company as the Rochelle field development has the potential to more than double our current production," said William L. Transier, chairman and chief executive officer. "The success of our first company-operated appraisal project reflects the quality of our technical evaluations and operational capabilities, and we intend to move quickly towards development. Our preliminary estimates indicate recoverable reserves in excess of 30 million gross barrels of oil equivalent."
The Rochelle 15/27-11 appraisal well was drilled to a total depth of 10,369 feet subsea approximately two kilometers northeast of the 15/27-9 discovery well drilled in 2000. Endeavour acquired the Rochelle area in 2006. It lies in the Outer Moray Firth in the prolific Kopervik sand fairway between the Goldeneye and Brodgar producing fields.
Endeavour International Corporation is an oil and gas exploration and production company focused on the acquisition, exploration and development of energy reserves in the North Sea and United States. For more information, visit http://www.endeavourcorp.com
Certain statements in this news release should be regarded as "forward-looking" statements within the meaning of the securities laws. These statements speak only as of the date made. Such statements are subject to assumptions, risk and uncertainty. Actual results or events may vary materially.
SOURCE Endeavour International Corporation
CONTACT: Endeavour - Investor Relations, Mike Kirksey, +44-(0)- 207-451-2360, +1-713-307-8788; or Canaccord Adams - United Kingdom Broker, Jeffrey Auld, + 44-(0)-207-050-6500; or Pelham Public Relations - UK Media, Philip Dennis, +44-(0)-207-743-6363, Henry Lerwill, +44-(0)-203-178-6242
vendor