Exillon Energy Plc Drilling Update (9863Y)
March 01 2013 - 2:02AM
UK Regulatory
TIDMEXI
RNS Number : 9863Y
Exillon Energy Plc
01 March 2013
Exillon Energy plc
Drilling Update
1 March 2013
1 March 2013 - Exillon Energy plc, 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.
ETP V - 5001
Well ETP V - 5001 was spudded on 1(st) October 2012 and drilled
and cemented in 126 days on the northern tip of the ETP V licence
area. The well encountered Lower Silurian reservoir at 3,223
metres, confirming 22.8 metres of absolute effective net oil pay
within the Silurian reservoir. In addition, the well encountered
Domanic reservoir at 3,204 metres, confirming 3.8 metres of
absolute effective net oil pay. Due to the angled trajectory of the
well bore, this well exposed 29.2 metres of effective net oil pay
for production.
The well is structurally elevated by 26 - 46 metres above known
oil in the ETP V field, which supports the Group's assertion that
this well may have discovered a new oil field that extends into the
North ETP VII licence, also owned by the Group.
Upon perforation, the well flowed water-free oil to the surface
with a flow rate of 729 bbl/day from the Silurian reservoir. Core
results illustrate that the reservoir is represented by fractured
vugous porosity dolomites.
The well was drilled 1.1 km to the north-east of Pad 5, and is
now connected to existing production facilities. The drilling rig
has now spudded Well ETP IV - 5002 targeting the northern part of
the ETP IV field.
ETP IV - 3000
Well ETP IV - 3000 was spudded on 1(st) September 2012 and
drilled and cemented in 105 days on the southern part of the ETP IV
field. The well encountered the Lower Silurian reservoir at 3,262
metres, confirming 12.5 metres of absolute effective net oil pay
within the Silurian reservoir. In addition, the well encountered
Domanic reservoir at 3,237 metres, confirming 1.6 metres of
absolute effective net oil pay. Due to the angled trajectory of the
well bore, this well exposed 15.8 metres of effective net oil pay
for production.
The well is currently flowing 567 bbl/day of fluid, of which 439
bbl/day is oil. The well is gradually increasing the oil flow rate
as it cleans up the well bore from drilling mud and water used
during completion.
The well was drilled 0.86 km south of Pad 1, and is now
connected to our existing production facilities. Well logging and
testing results support our geological understanding of the ETP IV
field. This is the last well on the southern margin of the ETP IV
field, and the drilling rig has now been demobilized.
Media contact:
Tom Blackwell
Email: Blackwell@mcomgroup.com
Tel: +44 207 920 2330begin_of_the_skype_highlighting
This information is provided by RNS
The company news service from the London Stock Exchange
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