Deltic Energy Commences Pensacola Well Operations

Deltic Energy, the AIM-quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea, has announced that Shell, the Operator of Licence P2252, has confirmed that the Maersk Resilient rig has been safely installed on the Pensacola location and that drilling operations have now commenced.

Deltic has a 30% working interest in Licence P2252 which is located in the emerging Zechstein Reef play fairway in the Southern North Sea. Deltic estimates the Pensacola natural gas prospect to contain gross P50 Prospective Resources of 309 BCF.

The drilling operations are expected to last between 60 and 90 days and the well has been planned to be plugged and abandoned at the completion of operations. Deltic will update the market upon completion of operations.

Graham Swindells, Chief Executive of Deltic Energy, commented:

'We are excited to have commenced the well operations of our first exploration well on the Pensacola gas prospect. Pensacola is a high impact, potentially play opening prospect and represents what we hope will be the first of many wells as the Company continues to implement its strategy to identify opportunities and discover gas to support the UK's energy needs.'