Circle Oil PLC (COP.LN), an oil and gas company, Tuesday announced the results of the spud of the AASE-18 well on the Al Amir SE Field, saying it has resulted in a further increase in the total gross daily production to over 13,500 barrels of oil equivalent per day.
Circle Oil PLC (COP.LN), an oil and gas company, Tuesday announced the
results of the spud of the AASE-18 well on the Al Amir SE Field, saying it has
resulted in a further increase in the total gross daily production to over
13,500 barrels of oil equivalent per day.
MAIN FACTS:
-Well encountered the Kareem sands over 200 feet high to prognosis with 34 feet
of net pay in the Shagar and 32 feet of net pay in the Rahmi, both zones of
good reservoir quality
-Well has been tested and completed as a Rahmi producer
-Rahmi perforations between 9,757-9,797.5 feet MD were completed on Aug. 30 and
the well was put onto multi rate testing and pressure build up on Aug. 31.
-The flow test on a 48/64" choke produced at a rate of 1,952 bopd and
1.821 MMscf/d of gas (331 boepd)
-Well was connected for production with an initial flow rate on a 18/64"
choke of 1,056 bopd of 42 degree API crude oil and 0.907 MMscf/d of gas (165
boepd)
-AASE-15 was spud on Aug. 23, located in the north-western part of the field,
downdip of and 800 metres north-west of Rahmi producer AASE18
-Planned as a vertical hole to appraise the Shagar and Rahmi sands; may be
completed as a Rahmi injector or a Shagar producer.
-Current gross daily production rate from the AASE and the Geyad Field is now
standing at 11,234 bopd and 12.54 MMscf/d (2,282 boepd). Cumulative production
from the NW Gemsa Concession has now exceeded 12.6 million barrels of 42 degree
API crude oil
-Water injection in the AASE and Geyad Field is currently about 32,330 bwpd
-Shares closed Monday at 20 pence valuing the company at GBP111 million.
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