Old Head Of Kinsale Drilling Update
Valhalla Oil and Gas Limited (“Valhalla”) today reports that the 49/23-2z sidetrack well on Exploration Licence 4/05 (the “Old Head of Kinsale”) in the Celtic Sea offshore Ireland has reached target depth at 5,140 feet measured depth (drillers total depth 4,386 feet as true vertical depth brt). The operator, Island Oil & Gas plc, has completed logging operations and based on the results, is now preparing to test the well. A further announcement will be issued upon completion of the testing operations.
The licence holders are Island Oil & Gas plc ( 65% and operator ), Valhalla ( 20% ) and Encore Oil plc ( 15% ).