Mar. 2013 - Drilling operations on exploration well 211/11b-7 are being wrapped up in order to plug and abandone the well. The well, being drilled on the Timon prospect, has been declared a dry hole. Upper Jurassic sands were found to be poorly developed in the target location.

Jan. 2013 - Valiant Petroleum announced the arrival of the Transocean John Shaw (mid-water semisub) at the Timon prospect to re-enter exploration well 211/11b-7. The well was spudded by another rig in September 2012 but had to be suspended do to excessive technical downtime. It is thought that 40 days will be required to reach total depth. Timon is an Upper Jurassic play with gross best estimate prospective resources of 30 million barrels of oil equivalent.

Jun. 2012 - MPX Energy and partners have terminated the drilling contract with Awilco Drilling as a consequence of technical downtime. The semisub was conducting exploratory drilling at the Timon exploration well in the UK sector of the North Sea. As previously reported, the well has been suspended for reentry and the license partners are currently investigating alternative rig options to complete drilling of the Timon prospect.

May. 2012 - The WilHunter (UDW semisub), which is drilling the Timon exploration well in the UK sector of the North Sea, has incurred technical downtime due to equipment failure. Therefore, operations at the Timon well have been temporarily suspended and the current estimated length of downtime is roughly 18 days. A further update will be released once the semisub is able to recommence normal operations, which is expected to be in early June 2012.

May. 2012 - Valiant Petroleum announced that the WilHunter (UDW semisub) has arrived on location to drill the Timon prospect, located in the UK sector of the North Sea. The well is anticipated to spud within the next few days and take around 40 days to complete. Timon is an Upper Jurassic channelized sand play similar to the Cladhan and Tybalt discoveries also located in the UK Northern North Sea. Gross best estimate prospective resources are estimated by Valiant to be 30 million barrels of oil equivalent.

Jan. 2012 - Valiant has farmed into Blocks 211/11b and 211/16b in the UK sector of the North Sea acquiring a 10 percent stake from Agora Oil & Gas. The blocks contain the Timon prospect, an Upper Jurassic stratigraphic trap. The consortium plans to spud the prospect in 1Q 2012 using the WilHunter (mid-water semisub). Valiant estimates prospective resources to total 30 mmboe.