First Oil Plc
 
Fyne discovery appraised and tested

At Fyne, Operator Antrim is incorporating the results of two successful appraisal wells into the reservoir model and intends to progress the discovery to FDP submission without further drilling. Well 21/28a-9, drilled in April 2008, was an appraisal well with two planned sidetracks designed to delineate Fyne and to refine the correlation between pay and amplitude derived from the recently acquired high resolution 3D seismic data. The well successfully calibrated the seismic allowing much greater confidence to be put on mapped oil in place. Well 21/28a-10 was completed in August 2008 and proved up a significant north western extension of Fyne which tested at 4,000 boed. The operator’s interim Fyne reserve estimate gives P50 reserves net to First Oil of 5.5 mmstb. Block 21/28a also contains the Dandy and Area 4 discoveries which will be appraised at a later date with a view towards a phased area development. (September 2008)

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