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NEWS BULLETIN

February 08, 2007 --- Vol. 13, No. 10February 2007

Brooks Range spuds North Shore No. 1 well on North Slope

Brooks Range Petroleum Corp. has spud the North Shore No. 1 well on Alaska’s central North Slope, north of the Prudhoe Bay oil field, the company announced Feb. 8. The well will test an oil accumulation first tested by Mobil in the Gwydyr Bay South No. 1 well in 1974. The prospect lies in the Ivishak, in a fault block separate from the Prudhoe Bay field, and in a state of Alaska lease that Brooks Range has acquired through a farm-out arrangement with Exxon, Chevron and ConocoPhillips.

Nabors rig 16E is drilling the well.

“We have identified a structural closure of interest on 3D seismic,” said Larry J. Smith, Brooks Range chief geophysicist. “Today’s 3D seismic technology and 3D mapping techniques were not available to Mobil when they drilled their well making it difficult for them to map reservoir geometry.”

After completion of the North Shore well the Nabors rig will move a mile and a half north to drill the Brooks Range Petroleum Group Sak River No. 1 well. That well will test Kuparuk and Ivishak Gwydyr Bay prospects, Brooks Range said.

The wells involve directional drilling from onshore locations. The North Shore well target lies under the Kuparuk River delta, while the Sak River well targets lie under the state waters of the Beaufort Sea.

“Brooks Range Petroleum Corp. is committed to safe operations, environmental stewardship, and economic growth which will provide jobs for Alaskans,” said Bo Darrah, Brooks Range CEO. “We place a high priority on purchasing goods and services locally. We are committed to giving local contractors and suppliers the opportunity to participate in our projects through the competitive bid process.”

For the full story, see the Feb. 11 edition of Petroleum News.

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