Results for Pegasus West well expected before end of October (UK)

Atlantic Petroleum has informed that well test preparation operations continue on the 43/13b-7 Pegasus West gas well, on UK Licence P1724, in the Southern North Sea.

The well is being completed so that it can be used for later production, if the flow test proves commerciality. Results from the tests are expected before the end of October and AP said the announcement with the flowrate and further details will follow.

The Pegasus West well lies in the Southern North Sea, close to the producing Cavendish Field. The well is operated by Centrica Energy who holds a 55% interest in the licence. Atlantic Petroleum holds 10% equity and the remaining equity 35% is held by Third Energy Offshore.

Atlantic Petroleum has also informed that during the month of September, Atlantic Petroleum produced a net total of 60,000 barrels of oil equivalents (boe) from the Chestnut, Ettrick and Blackbird fields.

The average daily production was 2,000 boe per day net to the company. Production has improved significantly from August as the new Blackbird PB2 well has now reached full production.