London-UK upstream minnow Nautical Petroleum saw its shares jump in value by over one-third September 21 after announcing it had found a new, substantial column of oil at its Kraken field in the central North Sea. Nautical said an exploration sidetrack well on block 9/2b hit two separate oil reservoirs with a vertical net oil pay of 42 feet and 35 feet. Well logs show the reservoirs have “very high” average porosities which may exceed 40% and contain oil saturation of up to 90%.
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