Wednesday 2 February 2022

Longboat Energy, the emerging full-cycle North Sea E&P company, announces that the stacked Ginny/Hermine exploration prospects in licence PL1060 (Company 9%) failed to encounter hydrocarbons and will now be plugged and abandoned.

Exploration well 6407/9-13 operated by Equinor Energy AS, was targeting both the Upper Jurassic Ginny and the Middle Jurassic Hermine prospects located between the Galtvort discovery and Hasselmus field development. The well was drilled to a vertical depth of 2,319 metres below sea level and encountered the target reservoirs water wet.

The drilling operations were carried out within budget and with no HSE incidents.

Helge Hammer, Chief Executive of Longboat, commented:

“Although this was the least impactful target in our portfolio, we are disappointed that the Ginny and Hermine prospects were not successful, particularly given their location between discoveries of similar age and structure.

“In the meantime, the Company is looking forward to continuing the fully funded well programme with the Kveikje well expected to spud next month, the Cambozola wellspudding in the spring and Copernicus in the summer.”