Challenger Energy Group PLC (LON:CEG) said hydrocarbons were encountered in the latest section of the Saffron-2 well in Trinidad.
Initial interpretation of logs to a depth of 3,530ft had identified a further 42ft of net pay in the lower Middle Cruse, increasing the total of oil-bearing sands thus far identified in the Upper Cruse and Middle Cruse to over 200ft, Challenger said in a statement.
The well has now reached a depth of 4,126ft, with an intermediate casing string added to the well plan at 4,118ft to preserve and bank the lower Middle Cruse and upper reservoir units of the main Lower Cruse target horizon
Drilling is continuing to a target depth of 4,557ft, at which both Lower Cruse sections - the primary reservoirs of interest - will be logged
Adding an intermediate casing string has extended the schedule for completion of drilling and logging by approximately 7 days to 30 June 2021, said the junior, with production testing remaining on track for mid-July
Eytan Uliel, chief executive, added: “As with the first sections of the well, we have again encountered hydrocarbons in the most recently drilled section, and logging the balance of the Middle Cruse has indicated a further 42ft of net pay - meaning that we have now identified a total of over 200ft of oil-bearing sands in secondary reservoirs of interest.
"Drilling continues, to an anticipated TD of 4,557ft, at which point the primary reservoirs of interest will be logged."