Business
Operations Update - replacement
Operations Update - replacement.
About this update from Block Energy Plc
[{"type":"text","content":"\n \nRNS Number : 0703B Block Energy PLC 27 January 2020 \n\n27 January 2020\n \nBlock Energy Plc\n(\"Block\" or the \"Company\")\nOperations Update\nThis announcement replaces RNS No 9317A which was released at 700 a.m. on Monday 27 January 2020. The heading in the seventh column of the table of test results has been amended to read \"Average Total (Oil+Gas) Rate (boepd)\" instead of \"Average Gas Rate (boepd)\". All other details remain unchanged. The full amended text is shown below:\n \nBlock Energy Plc, the exploration and production company focused on the Republic of Georgia, is pleased to provide an update on operations at its West Rustavi field (\"West Rustavi\" or \"the Field\"):\nHighlights\n· Multi-rate production testing is underway at well WR-38Z (\"WR-38Z\") following a clean-up period to stabilise the well and recover fluids lost during drilling. Peak production rates have exceeded 300 bopd and 1.5 MMCF/d of gas (equivalent to a total of more than 550 boepd).\n· With the WR-38Z test confirming West Rustavi's rich gas potential, Block is accelerating the monetisation of its gas reserves by installing a central gas processing facility for the Field and by applying for permits required to get the gas onstream during Q2 2020. \n· Drilling operations have begun at well WR-51Z (\"WR-51Z\"), the third of West Rustavi's wells to be horizontally sidetracked.\n· Operations at the West Rustavi appraisal well WR-16aZ (\"WR-16aZ\"), which was shut-in during December for the installation of improved surface test facilities, are scheduled to re-start in early February with a well intervention programme designed to add a further 100-200 boepd to the Field's production.\n· The Company is encouraged by the quality of data indicated by a preliminary review of the recently acquired 3D seismic survey of West Rustavi.\nInitial results of the multi-rate production test at WR-38Z\nThe well has been flowing naturally since 30 November 2019, aside from a brief shut-in period between 27 December 2019 and 1 January 2020, when pressure recorders were installed in the well for the production test. The formal multi-rate test began on 3 January 2020, recording high well productivity and higher gas production rates than expected.&...