29th Sep 2014 09:16
LONDON (Alliance News) - Leni Gas & Oil PLC Monday said it has conducted a series of initial production tests at the GY-667 well at the Goudron field in Trinidad.
The group said that after perforating a 44-foot interval in the Lower Cruse Sandstones at the site, initial tests showed a calculated open-hole flow rate of 540 barrels of oil per day.
The well is presently producing 40 degree API gravity water-free oil at a rate of 142 bopd, Leni said.
Higher rates up to over 220 bopd have been successfully tested. However, temporary field-wide production constraints are in place until the additional sales capacity is on-stream in the next week, the company added.
"The results from GY-667, the company's first completion in the Lower Cruse reservoir, have far exceeded our initial estimates of 60 bopd," said Leni Gas Chief Executive Neil Ritson.
"We have yet to confidently locate the thickest zone of Lower Cruse Sandstones, and therefore we are excited that a relatively thin interval is producing so prolifically. This is very encouraging for further potential in the Lower Cruse within the field," Ritson added.
Leni Gas shares were up 6.8% to 6.405 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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