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 has potential recoverable reserves of 160 MMboe according to partner Capricorn. The main objective is the Lower Cretaceous Agat Sandstone which is mapped to pinch-out against the Basement High. There is also secondary potential in an Upper Cretaceous, stacked, channelised turbidite fan complex. Equinor drilled to TD at 2,913 m and on 25 March 2019 the well was abandoned. Results are expected to be announced shortly.  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 - P&A, results awaited, primarily targeting Early Cretaceous Agat sst with a secondary target in the Late Cretaceous turbidite complexes, and mean gross prospective resources are estimated at 160 MMboe.