Business
Egypt Exploration Update
Egypt Exploration Update.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n Regal Petroleum PLC\n10 October 2007\n\n\n\n\nImmediate Release 10 October 2007\n\n\n REGAL PETROLEUM PLC\n ('Regal' or 'the Company')\n\n Second Exploration Well in Egypt\n\n\nThe Company is pleased to announce that Apache East Ras Budran Corp. LDC as\noperator of the East Ras Budran Concession (the 'Concession') in Egypt has\nspudded exploration well ERB-B-1X, the second of the exploration wells planned\nfor 2007.\n\nRegal owns a 25% working interest in the Concession which covers an area of 521\nsquare kilometres onshore in the Gulf of Suez. The first exploration well,\nERB-A-1X, recently resulted in a commercial discovery in the Darat Limestone\nformation which flowed at an average rate of approximately 1,900 bopd during a\n12 hour flow period. The oil quality, originally estimated at 17 degree API, has\nsubsequently been confirmed to be of 21 degree API and further production\ntesting is planned for this well in 2008.\n\nWell ERB-B-1X, which is planned to take 35 days to complete, is targeted to\npenetrate prospective reservoirs in the Nubian Sandstone and is expected to be\ndrilled to a total depth of 8,300 feet. The ERB-B feature lies 5 kilometres\nnorth of the ERB-A discovery and has been identified using existing seismic\ndata, including the 3D survey acquired in early 2007, and is targeting\nreservoirs proven to be productive in the nearby offshore Ras Budran field.\n\n\n\nFor further information, please contact:\n\nRegal Tel: 020 7408 9500\nNeil Ritson, Chief Executive Officer\nFrank Scolaro, Chairman\n\nEvolution Securities Tel: 020 7071 4300\nRobert Collins\n\nMirabaud Securities Tel: 020 7321 2508\nPav Sanghera\n\nBuchanan Communications Tel: 020 7466 5000\nBobby Morse\nBen Willey\n\n\n\nDefinitions:\n\nbopd barrels of oil per day\n\nIn accordance with the guidelines of the AIM market of the London Stock Exchange, \nNeil Ritson BSc (Hons) Geophysics, FGS, Chief Executive Officer of \nRegal Petroleum plc, is the qualified person that has reviewed the technical \ninformation contained in this press release.\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2568,"tagName":"div"}]