Longboat Energy announces spud of Copernicus Exploration Well

LONDON, UK: Longboat Energy, the emerging full-cycle North Sea E&P company, announced the commencement of drilling operations on the Copernicus exploration well (Company 10%) in Norway.

Copernicus is the primary prospect located in license PL1017, which lies on the Utgard High in the Vøring Basin region of the Norwegian Sea.

The drilling of the Copernicus well 6608/1-1S, operated by PGNiG Upstream Norway AS, is being undertaken by the Deepsea Yantai drilling rig and is expected to take up to eight weeks to drill.

A further announcement will be made when drilling operations have been completed.

Helge Hammer, Chief Executive of Longboat Energy, commented: “We are pleased to commence the drilling of the second of three fully-funded, gas-focused exploration wells, with the drilling of the Oswig well, the first well in the series, also currently underway.

“Longboat Energy’s exploration programme offers shareholders a unique opportunity to gain gas weighted drilling exposure targeting net mean prospective resource potential of 70 mmboe1 with an upside case of 142 mmboe.”