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 Рunder 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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