“The well is planned for the second quarter of 2015 and will fulfill the outstanding work obligation attached to the licence,” the London-listed junior said.
The prospect lies in block 12/27 the Outer Moray Firth off the UK with estimated potential volumes of between 7 and 157 million barrels of oil equivalent in Upper Jurassic sandstones.
Suncor operates Niobe with a 49% working interest and is partnered by UK junior Trap Oil on 28% and Norwegian player Noreco on 22.5%.
Cash-strapped
