Monday 6 June 2022

Longboat Energy, the emerging full-cycle North Sea E&P company, announces that the Cambozola exploration well in licence PL1049 offshore Norway (Company 25%) was dry and will now be plugged and abandoned.

Exploration well 34/9-1S operated by Equinor Energy AS, was targeting Lower Cretaceous turbidite sand lobes in the Northern North Sea and had the potential to be a play opener. The well was drilled to a total vertical depth of 4,393 metres below sea level. Background gas readings were recorded throughout the overlying section, but the well failed to encounter any effective reservoir. Analysis of the data collected remains ongoing to understand the observed bright seismic amplitude anomaly and any remaining Lower Cretaceous prospectivity in the area.

The drilling operations were carried out within the time schedule and below budget.

Helge Hammer, Chief Executive of Longboat, commented:

“Naturally, we are disappointed that the Cambozola well was not a success but we look forward to continuing our fully-funded, gas-focused exploration programme with the large Oswig and Copernicus wells both anticipated to spud during the summer.”