EnCore reveal progress at Kinsale

EnCore Oil plc has announced that the Old Head of Kinsale gas appraisal well operated by Island Oil & Gas plc (“Island”) on block 49/23 located in the Celtic Sea, offshore Ireland, has reached total depth, and wireline logging and pressure testing have been completed.

Analysis of these results indicates that the well has encountered gas bearing sands and a gas water contact consistent with the results of the original 49/23-1 discovery well three kilometres to the North East.

Island will now drill a short sidetrack hole (49/23-2z) from the existing 49/23-2 well bore in an attempt to encounter the reservoir sands at a more crestal elevation within the structure.

Island is the operator of the block with a 65%. Interest, Valhalla Oil and Gas Limited has a 20%. Interest and EnCore holds a 15%. Interest, with the option to acquire an additional 5%. from Island, subject to certain conditions.

Graham Doré B.Sc. (Hons.) in Geology and M.Sc. in Petroleum Geology and EnCore’s Exploration Director, who has over 20 years' experience in the oil exploration and production industry, has reviewed and approved the technical information contained in this announcement.