3rd Nov 2009 12:45
ENEGI OIL PLC
Trading symbols:
London Stock Exchange: ENEG
Bourse de Luxembourg: GB00B29T9605
3 November 2009
Enegi Oil Plc
('Enegi' or 'the Company')
Enegi Garden Hill South Well Flows
Further to the news release on 1st October 2009, Enegi today announces that operations have now re-commenced at the PaP#1-ST#3 well at Garden Hill South.
The well initially flowed at a rate of between 580 to 600 bopd plus associated gas, on a 32/64th choke, that is, the well was choked back by 50%.
Data obtained when the well was brought on line in January 2009, suggests that if the well is flowed at full capacity, the wellbore pressure will decline steeply, reducing the time the well can produce.
Taking these parameters into account, the well will now be choked back further and the wellbore pressure carefully monitored. The intention is to gather data for further operations and to find the highest flowrate the well can sustain without a steep drop in wellbore pressure, so that oil and gas production is maximised.
Further updates will be provided over the following weeks.
Alan Minty, CEO of Enegi Oil commented:
"We are delighted that the well is now flowing, albeit on an interval basis. With the continued development programme that we are planning we believe that the well's full potential will soon be realised. In addition to developing Garden Hill South, we are continuing to implement our plans to de-risk and add value to the other assets in our portfolio. The coming months will be an exciting time for the Company."
03 November 2009
ENQUIRIES:
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Enegi Oil |
Tel: + 44 161 817 7460 |
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Alan Minty, CEO |
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Cenkos Securities |
Tel: + 44 207 397 8900 |
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Joe Nally Stephen Keys |
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Fox-Davies Capital |
Tel: + 44 207 936 5200 |
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Daniel Fox-Davies |
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College Hill |
Tel: 020 7457 2020 |
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Nick Elwes |
www.enegioil.com
Qualified Persons
The information in this release has been reviewed by Barath Rajgopaul MSc (Mech. Eng.) C. Eng, a director of Enegi. Mr. Rajgopaul has over 25 years experience in the petroleum industry.
The Company
Enegi Oil Plc is an independent oil and gas group whose objective is the identification, development and operation of hydrocarbon opportunities. The Group's current operations are focused on assets on and around the Port au Port Peninsula in Newfoundland, which, although lightly explored, is in an active petroleum system with light oil having previously been discovered there. The Group's assets include Garden Hill South, Shoal Point, Garden Hill Central, Garden Hill North and Lourdes.
Related Shares:
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