7th Jul 2014 08:46
LONDON (Alliance News) - Oilex Ltd Monday said it has now finished all four stages of fracking at the Cambay-77H well in India, and is now preparing to remove the well plugs so that all four stages can be opened to the well bore and it can begin production testing.
Last week, the company had to temporarily suspend operations in the second phase after experiencing a leak and some damage to machinery that it quickly repaired. However, it recovered quickly and has now completed all four stages of the fracking process.
"We are very pleased with the reservoir response to fracture stimulation on all 4 stages. Importantly, Cambay-77H had indications of gas during frac ops, highlighting the possibility of excellent reservoir deliverability," Oilex Managing Director Ron MIller said in a statement.
Oilex shares were up 2.8% at 6.55 pence Monday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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