Sterling Resources has reported an updated contingent and prospective resource estimate (100%) for the Cladhan discovery (UKCS Blocks 210/29a and 210/30a) as a result of the drilling success of two sidetracks from the original discovery well 210/29a-4.
These contingent and prospective resource estimates (100%) have been evaluated by RPS Energy.
P50 contingent resources have increased from 30 million barrels Oil in Place (OIP) to 89 million barrels OIP.
P50 prospective resources have increased from 65 million barrels OIP to 93 million barrels OIP in the previously assessed terrace area.
An additional 74 million barrels OIP of P50 prospective resources is attributable to an area off the terrace and in a fan system to the east previously not assessed by RPS Energy.
Subject to the completion of site survey work already in progress, conclusion of the rig selection process and regulatory approval from the UK Department of Energy and Climate Change (DECC), the company anticipates performing another drilling campaign at Cladhan during the first quarter of 2011.
Sterling is the operator of Cladhan (License P1064) and holds a 39.9% working interest through wholly-owned Sterling Resources (UK).
The other partners are Wintershall (UK North Sea) with a 33.5% working interest, Encore Petroleum with a 16.6% working interest and Dyas UK with a 10% working interest.