Business
Well Update
Well Update.
About this update from Cadogan Energy Solutions Plc
[{"type":"text","content":"\n \n\n\nPress Release 30 May 2019\n\n\n\n\nThis announcement is deemed to contain Inside Information as defined under theMarket Abuse Regulations n. 596/2014\n\n\n\n\nCadogan Petroleum Plc\n\n(“Cadogan†or the “Companyâ€)\n\nWell Blazh-10: Confirms High Productivity on Extended Test\n\nCadogan Petroleum plc (“Cadoganâ€), an independent, diversified oil & gas company listed on the main market of the London Stock Exchange, is pleased to report the extended well test on Blazh-10 has confirmed the high productivity of the well, with production of 275 bpd on a 26/64†choke.\n\nBased on the test result, the Company has decided to continue producing the well in natural flow at 275 bpd and to monitor it regularly. With the addition of the Blazh 10 well, oil production from the Monastyretska licence has now surpassed 500 bpd. The extended well test provides a more accurate picture of the sustainable rate of production, as previously outlined. \n\nThe well test started on May 18, once the drilling contractor left the site, with a restricted flow on three different chokes. The well produced 98, 133 and 181 bpd of oil in natural flow respectively on 8/64â€, 10/64†and 13/64†chokes; the flow period was followed by a 36 hours pressure build-up which has shown that the well is in communication with nearby wells and has no close barrier.\n\nOil samples were then collected down hole upon completion of the of the multi-rate well test and subsequently a production log recorded. This latter su...