Centrica provides update on exploration drilling

Centrica plc today announced a drilling update on the Turnberry exploration prospect in block 31/26b of the UK Central North Sea.

Centrica has been informed by the operator, Endeavour Energy UK Limited, that initial indications from drilling logs show no commercial quantities of hydrocarbons have been found.

Centrica farmed in to the Turnberry licence in September 2005 and holds a 20 per cent interest. Under the agreement, Centrica covered 26 per cent of the cost to drill the well, for a total consideration of £2.6 million.

The Turnberry licence is one of several prospects Centrica is currently participating in. As part of its exploration strategy, it expects to consider a number of opportunities, helping to increase the overall probability of success from exploration. The Turnberry prospect is not material to Centrica’s overall exploration programme.