Exillon Energy Plc Drilling update (2312I)
July 23 2012 - 2:00AM
UK Regulatory
TIDMEXI
RNS Number : 2312I
Exillon Energy Plc
23 July 2012
Exillon Energy plc
Drilling Update
23 July 2012 - Exillon Energy plc (EXI.LN), a London Premium
listed independent oil producer with assets in two oil-rich regions
of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon
WS"), is pleased to announce the following drilling update.
Well East EWS I - 52 was spudded on 18 June 2012 and drilled in
19 days on the northern part of the East EWS I field. The well
flowed water-free oil naturally to the surface with a test flow
rate of 692 bbl/day on an 8 mm choke. Only part of the net pay zone
has so far been perforated. The well encountered the Jurassic P
reservoir at 1,865 metres, confirming 21.7 metres of effective
vertical net pay. Due to the angled trajectory of the well bore
this exposed 40.6 metres of effective net oil pay for
production.
The oil water contact in this area of the field had originally
been assumed to be at 1,872 metres. The new well has not
encountered an oil water transition zone and has confirmed the
presence of oil at least 21 metres below the originally assumed oil
water contact. This is likely to have a positive impact on both the
production and reserves in this area of the field.
The well was drilled directionally 1.3 km south east of Pad 5,
and is now connected to our existing production facilities.
Well 52 is the third development well drilled from Pad 5
following the success of exploration Well 50 in 2011. The drilling
of the second development well, Well 54, was finished on 16 June
but it will be completed and tested after Well 52.
Media contacts:
Tom Blackwell +44 207 920 2330
This information is provided by RNS
The company news service from the London Stock Exchange
END
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