Stratic Energy updates on Crawford Well

Stratic Energy Corporation announces that the 9/28a-18 Crawford appraisal well in the UK North Sea has successfully confirmed the extension of Crawford Triassic reservoir to the north of the field. The well also discovered oil in a separate Tertiary target and additionally encountered good oil shows within the Cretaceous.

Well 9/28a-18 was designed primarily to appraise the extent and quality of the Crawford Triassic reservoir to the north of the existing wells, information that is important to the proposed Crawford field redevelopment project, and with a secondary objective of testing a Tertiary prospect. The well reached TD on November 16, 2007 in the Permian Zechstein formation having encountered oil in both the target intervals.

The Triassic Cormorant formation was encountered at 8,941 ft MD (8,131 TVDSS) and, with the benefit of a 70degrees well bore deviation encountered over 1,200 ft of oil bearing sandstone, equivalent to a more than 400 ft vertical section. Log characteristics are consistent with previous Triassic wells on the Crawford field, proving the extension of oil bearing Cormorant formation into the northern part of the field. The operator, Fairfield Energy, is investigating the availability of hydraulic fracturing equipment to test the formation. In the event that the appropriate equipment cannot be sourced in a reasonable timeframe, the operator will suspend the well without testing, pending a return in 2008.

The Tertiary discovery was made in oil-bearing sandstones at 6,120 ft MD (5,632 ft TVDSS). A 62 ft oil column containing 40 ft of pay was identified on wireline logs, confirming the oil water contact identified in the 9/28-4 well, and the existence of a good quality sand section. Wireline pressure test information confirms a medium oil density consistent with other Tertiary fields in the area. As a result of the extensive testing planned for the Triassic section, this interval will not be flow tested at this time. A key risk in the Tertiary plays on this block was the presence of reservoir quality sandstones; this well has proved their existence in the Tertiary and so reduces the risk profile of the other significant Tertiary prospects on the block. In addition, the presence of oil shows in the Cretaceous opens up further play possibilities on the block.