Environmental Assessment (EA)
The
Immediately on award of a Permit to Drill, the Company will finalise contracts with the rig supplier and other services, and will fix a date for drilling. A drill in Q4 of this year remains a reasonable expectation.
Eblana-9 objectives
In placing the Eblana-9 well, the company drew on geological expertise familiar with the analogous formations in the adjacent, producing
The Eblana-9 well
The well will be drilled at Lat: 38.444230735N, Long: 116.266997197W. Target depth is 5,300 ft. Drilling is expected to take 4-6 days and will be followed by Drill Stem Testing (DST) of 4-6 days. If the DST indicates oil in economic volumes is possible, production casing (4.5') will be run and cemented. The well is planned as a straight hole with no deviation.
Reservoir characteristics
The Eblana-9 well location is a structural/stratigraphic play updip and east of the company's previously drilled wells, Eblana-1 and Eblana-3. Both wells produced significant, though non-commercial, quantities of highly mature, light crude oil.
The volcanic rock types likely to be encountered in drilling Eblana-9 are Trachyte, Rhyolite and Basalt as well as Welded Tuff and Ignimbrite. These rocks can form viable hydrocarbon reservoirs with acceptable porosity and permeability and can also form the necessary seals. Permeability (MD) is expected in the range 65-75, with porosity of 19.5-22.5%. API is expected in the range 28-33.
Three potential producer zones are of interest: Zone 1 with top at 4,420 ft. and 200 ft. thickness; Zone 2 at 4920 ft. with 90-120 ft. thickness and Zone 3 with top at 5140 ft. and 30-60 ft. thickness.
Drilling
A conductor will be drilled to 120 ft., and pipe will then be run to that depth. The surface hole section to 8.5' will start at 120 ft. and run to a depth of 2,550 ft. The production hole section will be 6.125' hole size and run from 2,550 to 5,300 ft. From 3,500 ft., cutting samples will be taken every 30-40 ft. until chromatography shows high gas, when cuttings will be taken every 10-20 ft. Drilling will continue until the bottom of the third reservoir. Upon reaching TD, Open Hole logs will be run to aid in evaluation of the formation.
Testing
The purpose of the Drill Stem Test (DST) is to determine if the well is likely to produce at commercial rates. In addition, DST will also collect representative fluid samples for analysis, obtain steady state flows and collect flowing and shut-in bottom-hole pressure buildup data to aid in determining formation permeability and productivity. For each of the three zones of interest, 16 hrs. will be allocated for flow and 8 hrs. for shut-in. Swabbing will be carried out if required to initiate flow. The Surface Well Test contractor will provide a documented test report with flow rates, fluid cuts, surface pressures, and operations logging.
It is important to note that the purpose of testing at this stage is not to maximise flow but to determine the likelihood of commerciality and the viability of long term production testing. Maximising flow will be a subsequent exercise and may involve artificial lift or other measures.
Completion
Depending on DST results and open hole logging program, the decision may be taken to complete the well. In that case, 4.5' production casing will be run and a perforation programme carried out. Long term production testing would then follow in due course to ascertain likely recovery factors and other parameters. Operational planning for production testing is currently underway.
FORWARD-LOOKING STATEMENTS
The statements in this communication reflect the current thinking of the Board and the Company's present plans. The Company reserves the right to alter plans in the light of developing knowledge and circumstances. Shareholders' attention is drawn to the note below concerning Forward-looking Statements.
This press release contains certain 'forward-looking statements' and 'forward-looking information'. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to: business plans and strategies of
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