Successful demobilisation of drilling unit by Hurricane

Hurricane Energy plc, the UK-based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that it successfully demobilised the Transocean Sedco 712 semi-submersible drilling unit from the Lancaster horizontal appraisal well, West of Shetland, at 2100hrs on 1 July 2014. The Sedco 712 was under contract to Hurricane for 73.5 days – under the budgeted AFE of 75.9 days.

Hurricane 2Whilst on location the drilling unit successfully drilled and tested a 1km horizontal section of the Lancaster fractured basement reservoir. The Lancaster Field, which is 100% owned by Hurricane, has estimated 2C Contingent Resources of 207 million barrels of oil equivalent (MMboe).

The Company anticipates making a further announcement following completion of the detailed technical analysis of the results from the well test by late Q3 2014.

Neil Platt, COO of Hurricane, said:

“I am extremely pleased to confirm completion of the drilling and testing campaign on the Lancaster horizontal appraisal well and the safe demobilisation of the drilling unit within the AFE duration.

I should like to take this opportunity to thank all of our service partners – particularly Transocean Drilling UK Limited and SPD Limited (Hurricane’s Well Management Company) – for their support and assistance during the campaign.”

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