Equinor used the âTransocean Spitsbergenâ S/S to spud a well on the Presto prospect on 4 March 2019. 36/1-3 is located in PL 885 to the east of Agat. Presto had potential recoverable reserves of 160 MMboe according to partner Capricorn. The main objective was the Lower Cretaceous Agat Sandstone which was mapped to pinch-out against the Basement High. There was also secondary potential in an Upper Cretaceous, stacked, channelised turbidite fan complex. Equinor drilled to TD at 2,913 m in Basement and on 25 March 2019 the well was abandoned as a dry hole. A 180 m Agat Formation section was present, with 55 m of good sandstone but no hydrocarbons.  Two wells have previously been drilled just off-prospect (as mapped by Capricorn) â 36/1-2 to the north and 35/3-5 to the west. 36/1-2 was drilled by Saga in 1975 and recorded shows from the Upper Cretaceous Tryggvason Formation to the Upper Jurassic Intra-Heather Sandstone. The shows were strongest in the Agat Formation. 35/3-5 was also drilled by Saga in 1981/2 and it also encountered weak shows in the Agat Formation.  Interests in PL 885 are divided between Equinor Energy AS (20% + operator), Cairn through Capricorn Norge AS (30%), Wellesley Petroleum AS (30%) and Petoro AS (20%).
036/01-03 (Presto) (Equinor 20% + op. Cairn 30%, Wellesley Petrol. 30%, Petoro 20%) in PL 885, encountered 180m zone in the primarily targeting Early Cretaceous Agat sst. of which 55m comprised rock with âgood to very good reservoir qualityâ but was classified as dry by NPD.