15th Aug 2018 16:55
LONDON (Alliance News) - Bowleven PLC said Wednesday that it will plug and abandon its IM-6 well in Cameroon following disappointing test results.
The oil & gas company, focused on Africa, said the IM-6 well on the Etinde block in Cameroon was drilled to a total depth of 3,550 metres.
The well met its primary objective, which was to delineate the wet gas and water contact location within the intra-Isongo 410 sand reservoir, the company said.
However, the company has decided to abandon the well as results from the well log data and reservoir fluid samples taken showed that the 410 sand package is "largely water saturated at the IM-6 location".
"Following preliminary analysis of the well data, the decision has been made not to test the sand packages drilled at the IM-6 location. The well is currently being made ready to be plugged and abandoned," Bowleven explained.
The company also decided not to proceed with the IM-7 well location, which had to test any discovery from the 510 sandstone formation, after results showed that the 510 sand body is water bearing.
It will instead relocate the rig to a "backup location", IE-4, to the east of the IM-6 well.
Bowleven shares closed down 3.2% at 34.00 pence on Wednesday.
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