Business
Exploration Well Completed
Exploration Well Completed.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n Regal Petroleum PLC\n28 November 2005\n\n\nImmediate Release 28 November 2005\n\n\n\n Regal Petroleum Plc\n ('Regal' or the 'Company')\n\n Romanian Exploration Well Completed\n\n\nThe Directors of Regal announce that the Company's exploration well (RSD-1) in\nits Suceava licence reached a total depth of 1248 metres but failed to encounter\ncommercial quantities of hydrocarbons. The well is being plugged and abandoned.\n\n\nA comprehensive suite of advanced wireline log data has been acquired and the\nwell has been completed ahead of time and under budget.\n\n\nExploration Director Richard Hardman said 'The Suceava Block, located on the\nMoldavia Platform, is a 4,103 square kilometre exploration, development and\nproduction licence area (equivalent to 20 North Sea blocks). This region\ncontains several large commercial gas and condensate fields. Whilst our first\nwell, SE-1, flowed gas from relatively thin sands, our second, RSD-1, has\nencountered a number of good quality sands'.\n\n\nHe went on to say 'Whilst the result of this exploration well is disappointing,\nwe have acquired a large quantity of high quality and useful technical data\nwhich is a prerequisite to a proper understanding of the block and the whole\nregion. This technical data will be utilised in our continuing exploration\nprogramme in 2006, including the drilling of further wells. We remain confident\nthat this block has the potential to yield commercial reserves'.\n\n\n\nFor further information, please contact:\n\n\nRegal Tel: 020 7408 9500\nRoger Phillips, Finance Director\n\nBuchanan Communications Tel: 020 7466 5000\nBobby Morse / Ben Willey\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2058,"tagName":"div"}]