reachdiscoveries blocks 11/24 & 12/21b

Blocks 11/24 was awarded to Reach in the 23rd Round as licence P1270.The two wells that have been drilled on this block are discoveries. Well 11/24-1is the Lybster Discovery and 11/24-2 and sidetrack 11/24-2z the Knockinnon Discovery. The 11/24-2 and 2z wells were drilled in 2000 and lie approximately 9km from the coast. A prominent anticlinal structure was targeted and Multiple pay levels were encountered in a prominent anticlinal structure. A 3D survey is being acquired over this structure early in 2007 to help determine an appraisal location. The Sarclett discovery well 12/21-3 was drilled in 1984 and found oil in Jurassic aged sands. The trap is a simple tilted fault block. Engineering studies are being undertaken to determine the productivity of the reservoir. This licence P1268 is operated by Petro-Canada and Reach has a 5% interest.

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Blocks 11/23, 11/24, 11/25b, 11/28 & 12/21b