Business
Results of MEX-119 Well
Results of MEX-119 Well.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n \nRNS Number : 0606P Regal Petroleum PLC 08 October 2019 \n\n \n8 October 2019\n \nRegal Petroleum plc\n(\"Regal\" or the \"Company\")\n \nMEX-119 Well Results\n \nRegal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, is pleased to announce the results of the MEX-119 well located at its Mekhediviska-Golotvshinska (MEX-GOL) gas and condensate field in Ukraine.\n \nThe MEX-119 well is a development well, targeting production from the B-20 reservoirs in the Visean formation. The well was spudded in February 2019 and drilled to a depth of 4,822 metres, which was slightly shallower than its planned depth, after the targeted horizons were encountered.\n \nOne interval, at a drilled depth of 4,804 - 4,816 metres, was perforated, and initial testing was undertaken using a variety of choke sizes. During this testing, strong gas and condensate flows were recorded, and, accordingly, the well was hooked-up to the gas processing facilities to allow longer-term production testing to be conducted to optimise the operating parameters of the well. Currently, the well is producing at a stabilised flow rate of approximately 5.0 MMscf/d of gas and 193 bbl/d of condensate (1,070 boepd in aggregate).\n \nSergii Glazunov, Chief Executive Officer, said: \"We are delighted with the results of this new development well, which was drilled safely and successfully. The flow rates demonstrated are excellent and a significant boost to our overall production volumes.\"\n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.\n \nFor further information, please contact:\n \n\n\n\nRegal Petroleum plc\n\n\nTel: 020 3427 3550 \n\n\n\n\nChris Hopkinson, Chairman\n\n\n\n\n\n\n\nSergei Glazunov, Chief Executive Officer\n\n\n\n\n\n\n\nBruce Burrows, Finance Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nStrand Hanson Limited\n\n\nTel: 020 7409 3494\n\n\n\n\nRory Murphy / Richard Tulloch\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nCitigate Dewe Rogerson\n\n\nTel: 020 7638 9571\n\n\n\n\nLouise Mason-Rutherford / Nick Haynes / Elizabeth Kittle\n\n\n \n\n\n\n \n \nDmitry Sazonenko, MSc Geology, MSc Petroleum Engineering, Member of AAPG, SPE and EAGE, Director of the Company, has reviewed and approved the tec...