Energean Oil & Gas Plc (ENOG.L) Announced that the Karish North exploration well has made a significant gas discovery. Initial gas in place estimates of between 1 Tcf (28 Bcm) and 1.5 Tcf (42 Bcm). High quality reservoir in the B and C sands. The well reached an intermediate TD of 4,880 meters approximately 7 days ahead of schedule. A gross hydrocarbon column of up to 249 meters was encountered and a 27 meter core was recovered to surface. Further evaluation will now be undertaken to further refine resource potential and determine the liquids content of the discovery. Drilling of the initial phase of the Karish North well is now complete. As planned, the company will now deepen the well to evaluate hydrocarbon potential at the D4 horizon. Once operations are completed on Karish North, the Stena DrillMAX will return to drilling the three Karish Main development wells. Following this four well programme, it has six drilling options remaining on its contract with Stena Drilling.
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