Exillon Energy Plc Drilling Update and Notice of Results (6281K)
August 23 2012 - 2:35AM
UK Regulatory
TIDMEXI
RNS Number : 6281K
Exillon Energy Plc
23 August 2012
Exillon Energy plc
Drilling Update and Notice of Results
23 August 2012
23 August 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 a drilling update.
Drilling Update
Well East EWS I - 53 was spudded on 19(th) July 2012 and drilled
and cemented in 24 days on the northern part of the East EWS I
field. The well encountered the Jurassic P reservoir at 1,875
metres, confirming 20.3 metres of effective vertical net pay. Due
to the angled trajectory of the well bore, this exposed 38.4 metres
of effective net oil pay for production.
The well was perforated in two stages. The lower zone of P
formation was perforated first and flowed water-free oil naturally
to the surface with a test flow rate of 503 bbl/day on an 8 mm
choke. Thereafter, the remaining Jurassic P formation was
perforated. The combined well flowed water-free oil naturally to
the surface with a test flow rate of 828 bbl/day on a 8mm
choke.
The oil water contact in this area of the field had originally
been assumed to be at 1,872 metres sub-sea. The new well has not
encountered an oil water transition zone and has confirmed the
presence of oil at least 32 metres below the originally assumed oil
water contact.
Well 53 is the fourth development well drilled from Pad 5
following the success of Exploration Well 50 in 2011. All five
wells have shown consistent results. They have thicker than
expected net pays, confirmed a highly permeable reservoir and none
has discovered an oil water contact, proving a wider and thicker
area of high quality reservoir across the northern extension of
East EWS I. All five wells are currently flowing naturally, without
pumps.
The well was drilled 1.1km south east of Pad 5, and is now
connected to our existing production facilities. A fifth
development well from Pad 5, Well 571, is currently being
drilled.
Financial Results for 6 months 2012
We expect to announce our unaudited financial results for the
first 6 months of 2012 on 31(st) August.
Media details:
Chris McMahon +44 207 920 2330
This information is provided by RNS
The company news service from the London Stock Exchange
END
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