Riesiges Ölfeld in der Nordsee entdeckt

“This is a superb result from Cladhan and is at the upper end of our expectations regarding the quality and quantity of reservoir sands. This result supports the idea that Cladhan is a significant stratigraphic trap which has still not encountered an oil water contact. We look forward to the results of the testing and the second side-track in order to help us determine the oil water contact and thus the extent of Cladhan. Only once this information is to hand will we be able to determine the relevant development options of Cladhan and provide an informed estimate of the potential size of the field.

“Aside from this exceptional result at Cladhan, we are hopeful of returning to Catcher this autumn, dependent on the signing of a suitable rig contract which is nearing agreement, but not yet confirmed. The group will target between two and four further locations on the Catcher block which, as with Cladhan, will help determine the size of the overall discovery and future development options. This is a really exciting time for EnCore and we look forward to the results over the coming months.”

The equity in the Cladhan joint venture partnership is as follows: EnCore Oil plc (16.6 per cent.), Sterling Resources Ltd (39.9 per cent., Operator), Wintershall (UK North Sea) Limited (33.5 per cent.) and Dyas (10 per cent.).

Peter Williams B.Sc. (Hons.) in Physics and EnCore’s Group Technical Manager, who has over 35 years' engineering experience in the oil exploration and production industry, has reviewed and approved the technical information contained in this announcement.

For further information, please contact:

EnCore Oil plc
www.encoreoil.co.uk

Alan Booth, Chief Executive Officer
+44 (0)20 7224 4546

Eugene Whyms, Chief Financial Officer

Yvonne Fraser, Investor Relations Manager
+44 (0)7957 241 408

Westhouse Securities Limited

Tim Feather
+44 (0) 20 7601 6100

Matthew Johnson

Notes to Editors:

Cladhan is located 225 miles north east of Aberdeen in 536 feet water depth.

EnCore Oil plc (LSE:EO.) is an oil and gas exploration and production (E&P) company quoted on AIM.

EnCore has a balanced portfolio of offshore assets, based mainly in the UK Continental Shelf (UKCS) and a significant equity holding in AIM listed Egdon Resources plc (LSE: EDR).

EnCore has an experienced and proven management team, a number of whom were responsible for the discovery of the Buzzard field in the UK North Sea, which currently produces over 10 per cent. of the UK’s total oil production.

All EnCore’s commercial and material technical evaluations are undertaken in-house by the EnCore team. This brings both continuity to the management and development of the assets and an ownership that is vital to unearth the best and most creative new ideas and opportunities.

www.encoreoil.co.uk

Mr Booth added that, at the Catcher area in the central North Sea, EnCore was finalising well locations with its partners following the acquisition of site surveys which were now almost complete.

He said: "We hope to return to drilling at Catcher in late September or early October for a programme of between two and four wells.

"A turnkey contract for use of the Galaxy II rig is being negotiated and it should be ready for signature once the necessary approvals have been received. Until the contract is signed, exact timing of the drilling programme cannot be guaranteed." The equity in the Cladhan joint-venture partnership is Sterling (39.9%), EnCore (16.6%), Wintershall UK (33.5%) and Dyas (10%).

Partners in Catcher are En-Core (15% and operator), Premier Oil (35%), Wintershall UK (20%), Nautical Petroleum (15%) and Agora Oil and Gas (15%).

After completing the well test operations, the well will be plugged back and a further side-track downdip and to the southeast of the original discovery well will be drilled to better understand the location of the oil water contact (OWC) in the field. The side-track operation will commence later this week and is expected to take approximately two weeks subject to weather and operational delays.

Alan Booth, EnCore's Chief Executive Officer, commented:

“The quality and deliverability of the Cladhan reservoir has been further confirmed by this excellent test result. Until we can establish the depth of the OWC, it will be difficult to accurately define the size of the Cladhan accumulation although we believe that it is very likely that a commercial accumulation at Cladhan has already been established. We look forward to the results of the side-track well which we hope will enable us to define the location of the OWC.

“Aside from the operations at Cladhan, at Catcher in UKCS Central North Sea Block 28/9, we are finalising the well locations with our partners following the acquisition of site surveys which are now almost complete. The necessary technical, drilling and safety evaluations for the use of the Transocean Galaxy II heavy duty jack-up rig are continuing and, subject to the necessary regulatory approvals of these, we hope to return to drilling at Catcher in late September / early October for a programme of between two and four wells. The turnkey contract with ADTI for use of the Galaxy II rig is being negotiated and it should be ready for signature once the necessary approvals have been received. Until such time as the contract is signed, exact timing of the drilling programme cannot be guaranteed.”