TORCAZ 5 PROGRESSING (6559V)
January 17 2012 - 2:00AM
UK Regulatory
TIDMGED
RNS Number : 6559V
Global Energy Development PLC
17 January 2012
Immediate Release 17January 2012
GLOBAL ENERGY DEVELOPMENT PLC
(the "Company")
TORCAZ 5 PROGRESSING
Global Energy Development PLC, the Latin America focused
petroleum exploitation, developmentand production company (AIM:
GED) with properties in Colombia and Peru,is still progressing with
itscold heavy oil production with sand("CHOPS") recompletion
project on the Torcaz #5 well within its Bocachico Contract Area in
the Middle Magdalena Valley of Colombia, South America.
Operations commenced in November 2011, and the Company
successfully cleaned out the previously drilled Torcaz #5 wellbore
by removing the original existing gravel pack.Aftereffectively
completing the well clean-out, a bridge plug was then installed at
a depth of 8,020 feet to shut off and isolate the Lower Esmeralda
formation in order to control possible water influx. Additional
perforations between 7,632 and 8,020 feet were then added in the
Lower 'A' Mugrosa formation.
The Company is currently in the process of modifying the pump in
order toattain optimum depth for the targeted Mugrosa perforations
and optimum fluid level production to fit pump capabilities.
The Torcaz #5 was originally drilled in 1999 and previously
tested at sustained rates of 300+ barrels of oil per day from the
Mugrosa formation before sanding up using a conventional non-sand
tolerant pump. Other operators in Colombia within the Middle
Magdalena Valley are also producing oil out of the Mugrosa
formation with estimated sand cuts of less than 5%.
Steve Voss, Managing Director, commented: "Weare learning a
great deal duringthis first phase of the CHOPS test on Torcaz 5,
and we are confident the mechanics of implementing CHOPS will be
successfully achievedas we progress with industry consultants.We
will continue to keep our shareholders apprised of our progress in
this important project."
For further information please contact
Global Energy Development PLC
Anna Williams, Director of Business
Development +001 817 310 0240
awilliams@globalenergyplc.com
www.globalenergyplc.com
Buchanan (Financial PR)
Tim Thompson +44 (0)20 7466 5000
Ben Romney
Northland Capital Partners Limited
+44 (0)20 7796
Louis Castro 8800
Lauren Kettle
This information is provided by RNS
The company news service from the London Stock Exchange
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