StockMarketWire.com - Faroe Petroleum, which is being acquired by DNO, said it would revise the uncertainty range for oil and gas recovery at the Brasse field in the northern North Sea after completing a new appraisal well.

The Brasse sidetrack 31/7-3 A well was drilled to a total depth of 2254 metres below sea level.

Wireline logging, pressure data and fluid sampling confirmed the well had encountered 62 metres of gross hydrocarbon-bearing Jurassic reservoir.

Testing also indicated the well had an around 20 metre deeper oil water contact in the northern part of Brasse compared to the central and southern parts.

'The sidetrack well encountered a lower-than-expected net to gross ratio and a significantly deeper oil water contact,' Faroe said.

'These new data points will now be incorporated in the Brasse geological models and an updated reserves range will be reported in due course.'




At 2:06pm: [LON:FPM] Faroe Petroleum PLC share price was +0.1p at 160.1p



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