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(From Aberdeen Press & Journal (UK))
Silverstone Energy, a fledgling North Sea exploration and production company, yesterday announced it will drill its first wells within a year.
The Aberdeen company, formed only nine months ago, also said it had identified several other exploration targets and expected to drill further wells in 2007 and beyond.
Its announcements follow a deal with ConocoPhillips and BP to drill two wells in the southern North Sea. Drilling on the first of them, the Vanquish well in block 49/16, is expected to start in March.
Silverstone did not reveal how much the deal was worth, but said it would be investing more than …