Contractors Unlimited

Catcher Rig Contract

EnCore Oil plc has announced that a rig contract has been signed to enable further drilling to take place in UKCS Central North Sea Block 28/9, where the Catcher discovery was made in June this year.

The Transocean Galaxy II heavy duty jack-up rig is expected to return to the Catcher area later this week to drill up to four exploration and appraisal wells. The first well in the programme is on the Varadero exploration prospect situated to the west of the Catcher discovery.

Commenting on the rig contract, Alan Booth, EnCore's Chief Executive Officer said:

"We are delighted that the rig contract has been signed and we have a firm timeframe for further drilling in the Catcher area. The team has done a significant amount of work to enable further exploration and appraisal of the block in such a short timeframe. We remain excited about the upside potential of the Catcher area which we hope will be better understood in the coming weeks and months."

The equity in the Catcher / Block 28/9 joint venture partnership is as follows: EnCore Oil plc (15 per cent., Operator), Premier Oil (35 per cent.), Wintershall (UK North Sea) Limited (20 per cent.), Nautical Petroleum (15 per cent.) and Agora Oil & Gas (15 per cent.).

EnCore Oil plc (LSE:EO.) is a UK based oil and gas exploration and production (E&P) company quoted on AIM. Encore hold a balanced portfolio of licences, primarily focused on offshore UKCS. The company also own just under 30 per cent equity in AIM listed Egdon Resources plc (LSE: EDR), a focused onshore UK E&P company - www.egdon-resources.com

Published 27/09/2010

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