Located only 6 kmto the north-west of Bentley, the Bressay field experienced a vertical flow test of
3,200+ bopd of heavy oil. The Bressay oil and reservoir are “practically”
identical to Bentley and, through well data trade between the owner (Statoil) and
XEL, the company now has a “road-map” to aid in the upcoming drilling of their
horizontal appraisal well. Due to the very similar oil and qualities of the two
reservoirs and the solid results of the Bressay vertical test, we believe it would
not be overly optimistic to expect a horizontal test rate out of Bentley in the
range of 1,500 bopd – 2,000 bopd. Having said that, with a test rate in excess of
3,000 bopd coming out of a vertical well in such a close analogue as Bressay,
there could be significant upside to our conservative expectations