Atlantic Petroleum Re-Enters Brugdan II Well

Atlantic Petroleum announces that operations regarding the re-entry of the 6104/21-2 Brugdan II exploration well on Faroes Licence 006 have commenced.

The Brugdan II 6104/21-2 well was drilled in 2012 and suspended in late November that year as the weather was closing in. The well is being re-entered using the West Hercules semi-submersible rig in a water depth of about 460m.
Brugdan is a large four-way dip closure in the Tertiary that was previously drilled in 2006 by the 6104/21-1 well which was abandoned prior to reaching the Vaila Sandstone target due to mechanical issues. The well is expected to take over two months to complete.

The well is operated by Statoil who holds a 35% interest in the licence. Atlantic Petroleum has 1% interest, with 49% held by ExxonMobil and 15% by OMV.

Ben Arabo, CEO, commented:

“We are very pleased to announce the re-entry of the high impact Brugdan II well in the Faroe Islands. Although the well is both geologically and technically challenging, it could, if successful, have a very big impact on Atlantic Petroleum and on the Faroese shelf in general.”

Press Release, May 12, 2014