Global Energy Development PLC Simiti Formation Test - Bolivar Contract Area (3046J)
June 11 2014 - 2:00AM
UK Regulatory
TIDMGED
RNS Number : 3046J
Global Energy Development PLC
11 June 2014
Immediate Release 11 June 2014
GLOBAL ENERGY DEVELOPMENT PLC
(the "Company" or "Global")
SIMITI FORMATION TEST - BOLIVAR CONTRACT AREA
Global Energy Development PLC, the Latin America focused
petroleum exploration, development and production company (AIM:
GED) with operations in Colombia, announces an update on the
Catalina #1 well test in the Company's Bolivar Association Contract
("Bolivar Contract") located in the northern section of the
Magdalena Valley in Colombia, South America.
Further to its announcement of 19 May 2014, the Company confirms
that all subsurface pre-stimulation operations on the Catalina #1
wellbore have now been completed, including the installation of
high pressure wellhead equipment and stimulation tubing. In
addition, approximately 54 individual depths within the Simiti
formation have been perforated, selected on the basis of sandstone
development and natural fracture frequency, which is expected to
result in substantially all of the Simiti formation thickness,
measuring 646 feet in total, being stimulated. Upon perforating
there was immediate loss of completion fluid into the Simiti,
indicating favorable natural fracture and/or matrix permeability,
the levels and density of which indicate above normal pressures.
Surface stimulation operations are expected to commence within the
next week.
Steve Voss, Global's Managing Director, commented, "The Company
is pleased with the progress made to date in completing all
subsurface well preparation actions necessary for stimulation of
the Simiti formation to proceed shortly. All necessary surface
equipment including a high volume test manifold, separators and
hydraulic fracturing pumps are now being installed in and around
the Catalina #1 wellbore in preparation for the stimulation of the
well."
For further information please contact
Global Energy Development PLC
+001 817 310
Anna Williams, Finance Director 0240
awilliams@globalenergyplc.com
www.globalenergyplc.com
Northland Capital Partners Limited
+44 (0)20
Louis Castro 7796 8800
Lauren Kettle
This information is provided by RNS
The company news service from the London Stock Exchange
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