Trinity Exploration said drilling has started at its El Dorado prospect. Together with its TGAL-1 exploration well on the East Coast, Trinity was drilling two independent exploration wells.
"These two prospects offer the potential for significant reserve growth and future near term production," the company said.
The El Dorado well was located off the West Coast of Trinidad in the PGB license in 60 ft of water and lies about 2km from Trinity-operated production infrastructure. Trinity wasoperating the well and holds a 70% working interest in the prospect.
The El Dorado well is testing an undrilled fault block on the west flank of the Trinity operated producing Brighton field. The WS-152 jackup rig will drill a vertical well to a total depth of 6,138 ft to test five stacked sand packages.
Management estimates the El Dorado well is targeting gross unrisked P50 prospective resources of 13 mmbbl with a chance of success estimated at 51%. The well is expected to take approximately 35 days to drill.
Trinity was also drilling ahead at its TGAL-1 prospect and the well was at 4,367 feet. Trinity expects to reach TD next week and will announce the results of the well at that point.
At 8:22am: (LON:TRIN) Trinity Exploration & Production share price was -0.25p at 121.75p