Business
Rig contract signed for Phase I work programme
Rig contract signed for Phase I work programme.
About this update from Corpus Resources Plc
[{"type":"text","content":"\n \nRNS Number : 5305X Curzon Energy PLC 27 November 2017 \n\n27 November 2017\n \nCurzon Energy Plc\n(\"Curzon Energy\" or the \"Company\")\n \n Rig contract signed for Phase I work programme\n \n \nCurzon Energy Plc, an energy company pursuing a targeted acquisition strategy of oil and gas appraisal and development assets, is pleased to announce that it has signed a rig contract with Paul Graham Drilling and Services Co. (\"Paul Graham\") for the upcoming workover of five existing wells at its Coos Bay CBM project.\n \nCurzon Energy is Operator and has a 100% working interest in the Coos Bay CBM project, c. 45,000 acres of known Coalbed Methane (CBM) Gas accumulations in Coos Bay, Oregon, with 2C contingent resources of 273.5BCF. The Company is implementing a cost effective staged development plan, targeting first gas from Phase I in Q2 2018. The Phase I work programme consists of the low-cost workover of five existing, and drilling of two new wells and connecting them to the 12\" Coos Bay Gas Pipeline, which is located just 15 m from Curzon's wholly owned existing intra field pipeline.\n \nPaul Graham has commenced mobilization from their headquarters in California and expects their crews and equipment to arrive in Coos Bay this week. They will commence work shortly after their arrival and the Company expects the clean-out work at the five wells to be completed within approximately twenty-five days after commencement of the work.\n \nAs part of the Phase I programme, the Company continues to progress the sales contract with NW Natural in addition to working with engineers on the testing and design of the water disposal system. Alongside these changes the company has improved the infrastructure for rig access and is finishing work on the road to the compressor location. \n \nStephen Schoepfer, Managing Director of Curzon Energy said:\n \n\"Following Curzon Energy's successful admission to the London Stock Exchange in October 2017, we have been busy deploying the funds raised to ensure we have the right infrastructure in place for this highly attractive, low risk development. We are delighted to announce the signing of a rig contract for our low-cost Phase I drilling programme. \n \n\"Drilling is expected to commence in the near fu...