Business
Operations Update
Operations Update.
About this update from Corpus Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0347L Curzon Energy PLC 20 December 2018 \n\nMarket Abuse Regulation (MAR) Disclosure\nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \nCurzon Energy Plc\n(\"Curzon\" or the \"Company\")\nOperations Update\n20 December 2018\nCurzon Energy plc (LON:CZN) the London Stock Exchange listed oil and gas development company, pursuing a targeted acquisition strategy of oil and gas appraisal and development assets, announces an operations update on its Coos Bay Coal Bed Methane (\"CBM\") project.\nHighlights\n· Well testing operations at Coos Bay suspended\n· Curzon to undertake a comprehensive review of Coos Bay strategy to determine optimum forward plan\n· Considering attracting a suitably qualified joint venture partner\n· Ultimate commerciality of the project requires additional appraisal drilling and testing\n· Project with Pared Energy, LLC (\"Pared Energy\") offers potential participation in the drilling and development of a multi-TCF onshore natural gas project in Texas\n· Negotiations with Pared Energy have commenced and are proceeding constructively\nScott Kaintz, Chief Executive Officer comments:\n \n\"While gas flow at Coos Bay has not been in line with expectations, following the 2018 workover program, we remain bullish that the real potential of Coos Bay has yet to be adequately tested, fully explored or definitively determined. Not having drilled new wells over the past year has meant that the technical data gained on the project since IPO has been limited and should not be considered decisive or representative of actual field commerciality. \n\"Ultimately, to take the field forward will demand a dedicated appraisal and drilling program conducted by Curzon alongside potential development partners, and designed not only to discover the true commerciality of the known gas deposits, but also to establish a replicable well template for scalable development. Unfortunately, as Curzon inherited the existing wells and pad locations from the previous operator, we could not design an optimal app...