Business
Egyptian Discovery
Egyptian Discovery.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n Regal Petroleum PLC\n24 September 2007\n\n\n--------------------------------------------------------------------------------\n\nImmediate Release 24 September 2007\n \n\n\n REGAL PETROLEUM PLC\n\n ('Regal' or 'the Company')\n\n\n Oil Discovery in Egypt\n\n\n\nThe Company is pleased to announce that a successful well test has been\nconducted in the ERB-A-1X well operated by Apache East Ras Budran Corp. LDC\n('Apache') in the East Ras Budran ('ERB') Concession in which Regal holds a 25%\nworking interest. During a 12 hour flow period, the well produced 1,910 bopd\nthrough a 64/64' choke. No water was produced and initial indications are that\nthe oil has a gravity of approximately 17 degrees API. The well was lifted with\nnitrogen delivered to 11,900 feet through coiled tubing and no other stimulation\nwas required.\n\n\nThe ERB-A-1X well is the first of two commitment wells in the initial\nexploration period of the ERB Concession and was spudded on the 15 June 2007.\nThe well has been drilled to a total depth of 13,615 feet (11,921 feet TVD) to\nthe primary target in the Darat Limestone. The well has a near horizontal\ntrajectory at total depth to ensure optimum production potential from the\nanticipated reservoir interval.\n\n\nThe ERB-A-1X well has been suspended as a future production well and following\ndetailed evaluation of the test results, additional stimulation and testing may\nbe carried out. The drilling rig will now be moved to the second planned\nexploration well, ERB-B-1X, which is anticipated to be completed in the fourth\nquarter of 2007.\n\n\nAn appraisal well, ERB-A-2X, is under consideration and would be drilled\nimmediately following the completion of the ERB-B-1X well. Apache has informed\nthe Company that it plans to submit a Notice of Commercial Discovery to the\nEgyptian authorities shortly.\n\n\nRegal's Chief Executive Officer, Neil Ritson, commented: 'Although it is too\nearly to assess the reserves potential of the ERB-A-1X field, this is\nan exciting discovery from our first well in the ERB Concession. We look\nforward to further results from the planned exploration and appraisal of this\nConcession which lies onshore in the prolific Gulf of Suez basin.'\n\n\n\nFor further information, please contact:\n\nRegal Tel: 020 7408 9500\n\nNeil Ritson, Chief Executive Officer\nFrank Scolaro, Chairman\n\nEvo...