Nalcor announces second well spud in Parsons Pond drilling program

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Nalcor Energy — Oil and Gas announced today it spud the second well of its Parsons Pond Drilling Program, Nalcor et al Finnegan.

According to a news release, it is the second well of a three-well onshore exploration drilling program on the Northern Peninsula that is providing valuable information to enable Nalcor and its partners to further assess the petroleum potential in the Parsons Pond area.

“We expect this program will incent further exploration and advance the development of the basin,” said Jim Keating, VP Oil and Gas, Nalcor Energy.

The first well of the program, Nalcor et al Seamus, spud on Feb. 16 and reached the planned total drilling depth of 3,160 metres in May. It is scheduled for further testing this fall.

Nalcor Energy has an average of 67 per cent gross working interest in three onshore exploration permits on the island’s west coast. In addition to Nalcor Energy Oil and Gas Inc., there are four other partners with varying holdings in the three permits: Leprechaun Resources Ltd.; Deer Lake Oil and Gas Inc.; Investcan Energy Corporation; and Vulcan Minerals Inc.

Organizations: Nalcor Energy Oil and Gas, Leprechaun Resources, Deer Lake Oil and Gas Investcan Energy Vulcan Minerals Inc.

Geographic location: Parsons Pond, Northern Peninsula

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