UK: Carnaby Well Spudded

Nautical Petroleum plc announces that the Carnaby exploration well 28/9-5 in Central North Sea Block 28/9 was spudded at 05:45 hours on Friday 11 May 2012.

The well is being drilled using the Sedco 711 semi-submersible rig and is being managed by Applied Drilling Technology International (ADTI). The well is expected to take approximately 25 days, subject to weather and operational requirements.

The well is located immediately to the west of the Burgman discovery in the Greater Catcher Area. The objective of the well is to establish if hydrocarbons are present in the Tay and Cromarty sands.

Nautical has a non-operated 15 per cent. equity interest in Central North Sea block 28/9.

Source: Nautical Petroleum, May 11, 2012