British oil explorer EnCore Oil and its consortium partners have discovered oil at the Varadero exploration well 28/9-2 in the UK Central North Sea block 28/9.
The well, which is located to the west of the Catcher field, encountered excellent quality hydrocarbon bearing reservoir sandstones at 4,020ft measured depth within the target Tay Sandstone level.
EnCore said that initial analysis indicated the discovery of a 400ft hydrocarbon bearing interval with a calculated net pay of 106ft.
The well logs indicate excellent quality sands with average porosities of about 33%, and wireline sampling and pressure testing of the hydrocarbon bearing zones suggest that the oil has an API of approximately 26 degrees.
The well was drilled to a total depth of 5,205ft and will now be plugged and abandoned as planned.
EnCore is the operator and holds a 15% stake in the license, while its consortium partners Premier Oil, Nautical Petroleum, Wintershall and Agora Oil & Gas hold 35%, 15%, 20% and 15% interests, respectively.