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East West Announces Teremia Well Test Results and Operational Update for Romania
East West Announces Teremia Well Test Results and Operational Update for Romania C...
About this update from East West Minerals Ltd.
[{"type":"text","content":"\n\n\n\nEast West Announces Teremia Well Test Results and Operational Update for Romania\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 19, 2017\n\n\n\nTicker: EW (TSX-V)\n\n\n\nVANCOUVER, Dec. 19, 2017 /CNW/ - East West Petroleum Corp. (TSX Venture: EW) (\"East West\" or the \"Company\") Mr. David Sidoo, President and CEO, is pleased to announce that the Company's joint venture partner and operator, Naftna Industrija Srbije (\"NIS\"), has informed East West about the following test results from the first well, Teremia 1000, in the EX-7 Periam block located in the Pannonian Basin of Western Romania. \n\n\n \n \n\n \nLight oil was tested from two intervals within metamorphic basement with gross rates up to 363 bbls/day of fluid with water cuts up to 49% (maximum gross oil rate 177 bbls/day). In addition, a total of five intervals were individually tested in Miocene sandstones, four of which flowed gas at gross rates in the range 0.74 to 4.27 MMscfg/d. The fifth interval flowed minor quantities of gas and condensate. The Teremia 1000 well has been completed as a potential future oil producer. A decision regarding the commerciality of the oil accumulation is expected to be taken when the results of future appraisal wells are known. In addition, as flaring of gas in Romania is forbidden, any oil production will require a technical solution for the use of associated gas together with acquiring the necessary permits and approvals for the infrastructure and facilities. \n\nForward Work Program\n\nThe operator, NIS, has proposed and is actively progressing comprehensive exploration programs in the EX-2, EX-3, EX-7 and EX-8 exploration blocks in Romania. Whilst all activities comprise part of the commitment work programs they are nevertheless dependent on securing all the necessary government and local approvals. \n\nIt is hoped that 2018 activities in EX-7 will include the acquisition of infill 2D seismic over the Teremia 1000 discovery, an appraisal well and the drilling of another exploration well on a separate feature.\n\nIn both EX-2 and E...