Rooster Energy announces that it has made a new oil and gas discovery at its Vermilion Block 376 Field.
Production casing has been set and will be batch completed following the drilling of the A-5 development oil well. It is anticipated that the A-4 well will begin production in early May, 2012, along with re-commencement of production from the existing field wells and Rooster’s earlier announced A-3 discovery well. Rooster serves as operator of Vermilion Block 376 and owns a seventy (70%) percent working interest in the A-3 and A-4 wells.
Rooster has closed its acquisition of an additional fifty percent (50%) working interest at its Vermilion 376 oil field on March 31, 2012. With this acquisition, Rooster owns a 100% working interest in the existing platform and facilities, including the A-1 and A-2 oil wells and the currently drilling A-5 development well.
Robert Murphy, Chief Executive Officer of Rooster commented, “The recent activity at our Vermilion 376 oil field, including the exploratory successes at the A-3 and A-4 wells, in combination with the addition of proved and probable oil reserves just acquired, add value to Rooster’s overall reserve base.”
[mappress] Offshore Energy Today Staff, April 10, 2012