Business
Half-yearly Report
Half-yearly Report.
About this update from Corcel Plc
[{"type":"text","content":"\n \nCaracal Energy Provides 2013 Half-year Results\n\nCALGARY, Aug. 19, 2013 /CNW/ - Caracal Energy Inc. (\"Caracal\", the \"Company\",\nor the \"Group\") is pleased to announce its half year results for the six months\nended June 30, 2013.\n\n2013 Half-yearly results summary\n\nCaracal had a successful first half of 2013. The Badila development project was\ncompleted in early June. The Group was able to test new reservoir horizons\nsuccessfully, and apply modern 3D seismic techniques over the Badila and\nMangara developments and surrounding exploration opportunities. The Group\ncontinues to undertake intensive analysis of the exploration portfolio\nopportunities. Caracal achieved a significant milestone with the admission of\nits common shares to the premium list on the London Stock Exchange on July 9,\n2013.\n\nOperational Highlights\n\n· Completed construction and commissioning of the first phase of the\nmodular production facilities and gathering system at Badila,\n\n· Completed construction and commissioning of the 17 kilometre pipeline\nfrom the Badila facilities to the TOTCO-COTCO export line,\n\n· Completed the interconnection with the TOTCO-COTCO export line,\n\n· Completed and tied-in the Badila-1 and Badila-2 wells,\n\n· Completed a 3D seismic survey covering the Badila field and the\nadjoining Bitanda Ridge exploration prospect. Bitanda Ridge exploration\nprospect is targeting 277 million bbls unrisked P mean, 648 million bbls\nunrisked P10,\n\n· Filed an application for the 25 year development license for the\nKibea field,\n\n· Drilled the Badila-3 well to a total depth of 2,150 meters, with test\nresults indicating production of approximately 2,400 bopd,\n\n· Drilled and cased the Mangara-5 development well, then deepened it to\nexplore and test the lower Cretaceous E sands,\n\n· Spudded the Krim exploration target on August 6, 2013,\n\n· Received delivery of a second drilling rig (Rig-96) in Chad and spud\nBadila-4 on August 8, 2013.\n\nCorporate Highlights\n\n· Admitted to the premium listing segment of the Official List of the\nFinancial Conduct Authority and began trading July 9, 2013 on the London Stock\nExchange's main market for listed securities,\n\n· Completed the Farm-in Agreement with GlencoreXstrata plc\n(\"Glencore\"),\n\n· Increased net entitlement proven plus probable reserves (\"2P\") ...